STORY CONTINUES BELOW THESE SALTWIRE VIDEOSA look at the day ahead in European and global markets from Tom Westbrook
An increase of 25 basis points would take the rate on bank deposits to 4%, the highest since the euro launched in 1999. Germany is slipping toward recession. Energy is a potential wild card, with tight supply driving oil prices to 10-month highs and gas prices spiking as workers began striking at Chevron facilities in Australia that account for 5% of global LNG.
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Marketmind: Is the ECB done?The European Central Bank sets interest rates later today and traders figure we are at or near the peak. An increase of 25 basis points would take the rate on bank deposits to 4%, the highest since the euro launched in 1999. Notwithstanding inflation sticking around twice policymakers' 2% target, Europe's economy is slowing.
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European Stocks Decline as Stagflation Fears Rise Ahead of ECBEuropean stocks fell on Wednesday as stagflation fears hit sentiment, after reports indicated that the region’s economy was further sinking into a downturn while inflation was set to stay persistently high.
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Marketmind: China developers catch break, BOJ hawks take flightA look at the day ahead in European and global markets from Kevin Buckland Chinese property stocks and Japanese government bonds put on a two-ring show in ...
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Marketmind: China developers catch break, BOJ hawks take flightChinese property stocks and Japanese government bonds put on a two-ring show in Asia to start the global day on Tuesday, setting the tone for Europe. Meanwhile, Bank of Japan boss Kazuo Ueda's weekend comments that the end of stimulus is possible during 2023 is still reverberating in the local bond market, with the benchmark 10-year yield pushing to a new near-decade peak.
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Marketmind: Risk and rates moving in tandemA look at the day ahead in U.S. and global markets from Mike Dolan Both long-term borrowing rates and riskier growth stocks of the Big Tech universe have ...
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Marketmind: Risk and rates moving in tandemBoth long-term borrowing rates and riskier growth stocks of the Big Tech universe have climbed in tandem this week, a peculiar coincidence in price trends that typically offset each other. While it's often dangerous to over-interpret a few days of market developments, some argue investors are gradually pricing a more durable high-pressure economy ahead - one where demand and earnings growth stay brisk and keep credit policy and interest rates tight over the horizon. Either way, it was enough to hand Wall St stocks their best day of the month on Monday just as 10-year Treasury yields eye recent 15-year highs again above 4.3% ahead of today's auction of new 10-year paper.
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