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Global developments Oil market is recovering after a sharp decline at the start of last week. Today, Brent traded higher at $46.2/bbl, but now is slightly lower at $45.6/bbl. Crude oil inventories fell 2.45 mn bbl in the previous week. Crude oil production in United States rose 20,000 bbl a day to 9.35 mn bbl. S&P 500 futures are slightly higher today trading at 2442.0 (+0.3%). Eurostoxx 600 rallies 0.7% on a clean-up in troubled Italian banking sector. The dollar index is flat at 97.4. U
Global developments The Fed raised interest rates by 25 bps yesterday. The Fed maintained its outlook of one hike in the next six months. Policy makers intend to continue tightening in response to falling unemployment while taking into consideration inflation dynamics, which is unexpectedly low this year. S&P 500 futures are 0.6% higher today. Eurostoxx 600 is down 1.0%. The dollar index is 0.5% stronger. US 10Y Treasury yields are 4 bps higher at 2.17% after falling 8 bps yesterday.
Global developments ECB left all three interest rates unchanged and confirmed asset purchase program at EUR 60bn through December. According to the press release, “the Governing Council expects the key ECB rates to remain at their present levels for an extended period of time”. ECB President Mario Draghi will hold a press-conference at 12:30 GMT. S&P 500 futures are slightly higher today. Eurostoxx 600 is down 0.2%. The dollar index is 0.2% higher. US 10Y Treasury yields are 2 bps higher
Global developments Global stocks and commodities are lower amid rising concerns about the strength of global growth and demand. US labour data surprised on the downside: change in nonfarm payrolls in May came out at just +138K against consensus forecast of +182K. The probability that Fed will make a hike on 14 June is still very high at 90.6%. S&P 500 futures are 0.1% lower. Eurostoxx 600 is down 0.2%. The dollar index is 0.2% higher. US 10Y Treasury yields are 2 bps higher at 2.18% after f
Global developments Market sentiment is positive amid favourable employment data before publication of change in nonfarm payrolls data tomorrow. ADP employment change in May came out at 253K against consensus of 180K. S&P 500 futures are slightly higher. Eurostoxx 600 is up 0.4%. The dollar index is 0.3% higher. US 10Y Treasury yields are 3 bps higher at 2.23%. Positive inventories data supported oil prices. American Petroleum Institute reported that crude oil inventories declined 8.7 mn
Global developments Global stocks are mixed while markets in the US, UK and China are closed for public holidays. EURUSD is 0.1% higher at 1.119 before Mario Draghi will speak to the European parliament today at 13:00 GMT. Eurostoxx 600 is 0.1% lower. The dollar index is 0.1% lower. Gold prices are slightly up after gaining 1.0% on Friday. Oil prices are lower amid rising drilling activity. The number of active rotary rigs reported by Baker Hughes increased by 2 to 722. Brent prices are
Global developments The Fed minutes were rather dovish putting uncertainty on future interest rate increases but confirmed the June hike. This was enough to spur risk-on sentiment. S&P 500 futures are 0.2% higher today after the benchmark added 0.3% yesterday. Eurostoxx 600 is flat. Chinese CSI 300 is 1.8% higher while Nikkei 225 is up 0.3%. The dollar index is 0.1% lower. US 10Y Treasury yields are flat at 2.25%. OPEC extended oil production cuts for 9 months. OPEC members agreed to main
Global developments Markets calmed down after the risk-off sentiment in the previous week. S&P 500 futures are marginally higher today while Eurostoxx 600 is slightly lower. Chinese CSI 300 is 0.2% higher while Nikkei 225 is up 0.5%. The dollar index is 0.1% lower after falling about 2.0% in the previous week. US 10Y Treasury yields are 1 bp higher today at 2.25% declining 10 bps in the previous week. Oil prices climbed to the highest level in a month after Saudi Arabia’s energy minister
Global developments Equity markets are declining while bonds are rising amid political instability in the US. Trump and his administration are currently under continuing attack from media regarding their contacts with Kremlin. The political turmoil has led to a drop in equities and an increase in volatility. S&P 500 declined 1.8% yesterday while futures are 0.4% lower today. Eurostoxx 600 is 1.0% lower today after falling 1.2% yesterday. Chinese CSI 300 is 0.4% lower while Nikkei 225 is 1.3%
Global developments Rising commodities prices offered some relief for the markets amid Trumps’ struggles to implement his infrastructure program and tightening monetary policy in China. Bloomberg commodity index rose 0.7% today led by oil, iron ore gained 0.2%, gold is up 0.5%. Global stocks markets are mixed. Chinese CSI 300 is 0.4% higher while Nikkei 225 is 0.1% down. S&P 500 futures are marginally higher while Eurostoxx 600 is slightly down. The dollar index is 0.4% lower. US 10Y Treasur