Stocks fell anew Monday and the dollar climbed as high inflation, monetary tightening and the prospect of an economic slowdown spurred another bout of risk aversion. An Asia-Pacific equity gauge shed 1.5%, U.S. and European futures retreated and sovereign debt was under pressure -- providing little respite for investors after the fifth straight weekly decline in global shares and bonds. In China, the yuan held a drop amid data showing stagnating imports and the slowest export growth in dollar terms since 2020, underlining the economic toll of Covid lockdowns. Premier Li Keqiang warnedabout the employment situation as Beijing and Shanghai tightened virus curbs. Oil hovered around $110 per barrel. Crude is being buffeted by the demand hit from China’s outbreak and supply risks linked to Russia’s war in Ukraine. Stocks fell anew Monday and the dollar climbed as high inflation, monetary tightening and the prospect of an economic slowdown spurred another bout of risk aversion. An Asia-Pacific equity gauge shed 1.5%, U.S. and European futuresretreated and sovereign debt was under pressure -- providing little respite for investors after the fifth straight weekly decline in global shares and bonds. In China, the yuan held a drop amid data showing stagnating imports and the slowest export growth in dollar terms since 2020, underlining the economic toll of Covid lockdowns. Premier Li Keqiang warnedabout the employment situation as Beijing and Shanghai tightened virus curbs.
Oil hovered around $110 per barrel. Crude is being buffeted by the demand hit from China’s outbreak and supply risks linked to Russia’s war in Ukraine. Treasury yields were in sight of levels last seen in 2018, while Australian bonds extended a selloff. Inflation data this week from the U.S. and elsewhere could drive bond-market swings.
Nikkei -2.27% Hang Seng -3.81% CSI -0.65% Shanghai +0.00% Shenzen +0.41%
Eur$ 1.0510 CNH 6.7487 CNY 6.7092 JPY 130.98 GBP 1.2282 CHF 0.9923 RUB 67.9552 TRY 14.9605 WTI$ 110 +0.30% Gold 1,874 -0.55% BTC 33,657 -1.67% ETH 2,462.45 -3.07%
S&P -1.11% Nasdaq -0.94% EuroStoxx -1.41% FTSE -0.69% Dax -1.32% SMI
Macro :
- Outlook for European Profit Growth Too Optimistic, Citi Says
- Famous Volatility ETFs Are Back After a Wild Week on Wall Street
- Paris Olympics Plan Has Eiffel Tower Volleyball, Seine Swimming
- David Tepper Tells CNBC the Fed Erred Taking 75bps Off the Table
- Russia Can’t Shake Default Risk After Last-Minute Bond Payment
Keep an eye on :
- ALM SM : Almirall 1Q Normalized Net Income EU20.5M Vs. EU42.2M Y/y
- MT NA : Steel Shares Retreat With Iron Ore on China Property Fears
- ATL IM : Benettons, Blackstone to Bid for Atlantia in Late Summer: Rtrs
- BAVA DC : Bavarian Nordic 1Q Revenue Meets Estimates
- BMW GY : German Transport Minister Plans Major E-Car Subsidy Program: HB
- CAPC LN : Capco, Shaftesbury in Advanced Talks for All-Share Merger: Sky
- CELL IM : Esprinet Makes Non-Binding Offer for Cellularline
- CLVS US : Clovis Oncology Sinks as HC Wainwright Cuts on FDA Feedback
- DIA IM : DiaSorin’s 1Q Strong on Covid Testing Windfall, Analysts Say
- DSM NA : OMV Participates in Second Phase of Bidding Process for DSM
- DWS GY : SNCF Moves Ahead With Sale of Locomotive Firm Akiem: Les Echos
- EureKING : EureKING Health-Care SPAC Seeks EU150m in Paris Listing
- ENX FP : Euronext April Total Cash Market Transaction Value M/M -42%
- HOT GY : Hochtief Maintains FY Adjusted Net Forecast
- HYQ GY : Hypoport 1Q Ebit EU16.9M
- IFX GY : Infineon Sees FY Revenue EU13B to EU14B, Saw About EU13B
- JPM US : Dimon Pay Should Be Rejected by JPMorgan Investors, Adviser Says
- MBG GY : German Transport Minister Plans Major E-Car Subsidy Program: HB
- MCLS LN : Morrisons Files Improvised Offer With McColl’s Lenders: Sky
- OMV AV : OMV Participates in Second Phase of Bidding Process for DSM
- PNL NA : PostNL Cuts FY Normalized Ebit Forecast, Misses Estimates
- RIVN US : Ford to Sell 8 Million Rivian Shares as Lockup Expires: CNBC
- SFQ GY : SAF-Holland Names Wilfried Trepels Interim CFO
- SZG GY : Steel Shares Retreat With Iron Ore on China Property Fears
- SIKA SW : Sika to Divest Shotcrete Equipment Unit to Normet; No Terms
- TEF SM : Telefonica Agrees to Buy BE-terna Group for Up to EU350m EV
- UCG IM : UniCredit, ING, CredAg's $5 Billion Russia Charges Buy Comfort
- VALMT FH : Valmet Says Fire Damaged Paper Machine Plant in Finland Saturday