The greenback rose for a second day as a rally in oil reignited concerns over inflation, putting pressure on policymakers to keep rates high. A gauge of dollar strength climbed to the highest since March on the back of elevated Treasury yields, which pushed up across tenors as at least 40 businesses tapped high-grade markets around the world Tuesday. About half of the corporate deals — or over $36 billion of new bonds — were sold in the US. The greenback strengthened against most major peers and prompted Japan’s top currency official Masato Kanda to say Wednesday he wouldn’t rule out any options if currency moves continue. The Japanese currency strengthened following the comment, but has since pared its gain. The Chinese central bank also moved Wednesday with another strongest daily yuan fixing on record. Still, the currency extended its drop against the US currency into a third day. Meanwhile, West Texas Intermediate held near the highest since November and Brent stayed past above $90 a barrel — after breaching the level Tuesday — as the largest OPEC+ producers extended their supply cuts to year-end. Oil’s recent gains pose a headwind for much of Asia, threatening economic growth and risk keeping interest rates high. Asian stocks traded mixed, with benchmark indexes falling in Hong Kong and mainland China, but rising in Japan for an eighth day. Chinese property developers gained, with Sunac China Holdings Ltd. up as much as 34%, after Securities Times in a front-page commentary called for more cities to drop home-buying restrictions. US equities edged lower following the decline in the S&P 500 to below 4,500 in the previous session while an index of small caps slid about 2% and a gauge of homebuilders sank 5.5%. Traders will be monitoring consumer price index figures in Taiwan later Wednesday. More broadly, they are also looking to this month’s key economic data from the US and clues as to the Federal Reserve’s next rate decision. JPMorgan Chase & Co.’s Marko Kolanovic reiterated Tuesday that investors should fade the artificial-intelligence induced stock-market rally, arguing that he would turn more optimistic on equities if interest rates begin falling globally in the near term. Meantime, Morgan Stanley’s Michael Wilson said US equity investors are in for disappointment as economic growth is set to be weaker than expected this year. Elsewhere, gold was little changed after declining the most in more than a month in the previous session. US after Hours MITK +11.2%, AVAV +10.3%, GTLB +4.5% up on earnings; ENB -6.8% sliding on M&A announcement; ASAN -2.5%, ZS -1.1% down on earnings
Nikkei +0.61% Hang Seng +0.05% CSI -0.16% Shanghai +0.15% Shenzen +0.03%
Eur$ 1.0735 CNH 7.3134 CNY 7.3108 JPY 147.41 GBP 1.2574 CHF 0.8888 RUB 97.5709 TRY 26.7955 WTI$ 86.68 Gold 1,927.32 BTC 25,750 +0.17% ETH 1,630+0.06%
S&P -0.08% Nasdaq -0.17% EuroStoxx -0.30% FTSE -0.38% Dax -0.15% SMI -0.46%
Macro :
- Goldman Seeing Some Opportunities in China-Exposed Global Stocks
- JPMorgan’s Kolanovic Keeps S&P Year-End Price Target at 4,200
- Euronext Leaves AEX Index Unchanged in September Review
- Euronext Leaves AEX Index Unchanged in September Review
- EU Antitrust Chief Vestager Steps Aside Amid Bid for Top EIB Job
- Bank of Canada Poised to Hold, Keep Hawkish Bias: Decision Guide
Keep an eye on :
Keep an eye on :
- ANIM IM : Anima Holding Aug. Net Inflows EU256M
- ARM LN : Arm’s $55 Billion Valuation Falls Short of Lofty Expectations
- ARM LN IPO : TSMC Will Decide This Week Whether to Buy Into Arm’s IPO
- AZE BB : Azelis Holder Offers 406,488 Shares via Goldman Sachs, Prices at EU18.94/Share: Terms
- BARN SW : Barry Callebaut to Invest CHF500M Over Two Years in Core Areas
- BP/ LN : Sixth Street Injects $400 Million More Into BP Pipelines Venture
- BIDU US : Baidu’s $23 Billion Rally May See Boost on AI Launch: Tech Watch
- BPSO IM : UnipolSai Could Boost Pop. Sondrio Stake to 20%: Repubblica
- CLASB SS : Clas Ohlson 1Q Sales Matches Estimates
- GAM SW : NewGAMe Welcomes GAM Board Approval for EGM Proposals
- IDIA SW : Idorsia Reacquires Aprocitentan Rights for Up to CHF306M
- INPOST NA : InPost 2Q Adjusted Ebitda Beats Estimates
- ONTEX BB : Ontex Says CFO Peter Vanneste to Leave Early Oct.
- ORSTED DC : Orsted Ready to Abandon US Wind Projects Without Help
- ORSTED DC : Orsted Ready to Abandon US Wind Projects Without Help
- SALM NO : SalMar Sees Growth Potential to Total Harvest of 362,000 Tonnes
- SCHOTT Pharma IPO :
- SOF BB : Sofina 1H Net Asset Value per Share EU276.79
- SLHN SW : Swiss Life 1H Net Income CHF630M
- Techem : Blackstone, Macquarie Vie for €8 Billion Metering Firm Techem
- TEF SM : Saudi Telecom Buys 9.9% Telefonica Stake in $2.25 Billion Deal
- TSLA US : Tesla Shelves Expansion Plans on Overcapacity Fears: Panjaitan
- UBSG SW : UBS’s Ermotti Calls for Changes to Swiss Regulatory Framework
- VK FP : Vallourec Appoints Bertrand Frischmann as COO of the Americas
- VOLVB SS : Polestar Plans Smartphone Launch in Dec, First EV in China: CNBC
- VNA GY : Vonovia Preparing Partial Sale of Kiel, Lübeck Portfolio: HB
- VOW GY : VW Plant in Portugal to Suspend Production Due to Lack of Parts