Global Stocks Continue Lower, USD Steady Yields Picked Up The Fed views showed that the curve had a flattened short end, with the long ending performing in a bear flattener. After flattening to -72bps, the curve rewound to -70bps. The future is looming FOMC Expectations for a hawkish trimming of the rate path left following Wednesday’s decision With buyers out of pocket, stocks and bonds are heavy. There were also concerns about the future earnings of Alphabet and Meta, as well as Apple, Amazon, Alphabet and Meta. The US100 Slumped at -1.96% European stocks and bonds were also lower than the rest. ECB BoE rate decisions.
Elsewhere:
- China: domestic orders and consumption and manufacturing PMI drove higher (>50). A rebound in non-manufacturing activity was more decisive than expected by economists – but helped by a seasonal surge in spending for the Lunar New Year holiday.
- Japan Dec factory output inches down, retail sales beat forecasts
- German retail sales down 5.3% m/m in December & December import prices -1.6% m/m, +12.6% y/y.
- The USD Index – firmHowever, ed has been rising to 102.32 Assuming that the Fed keeps its higher for longer stance.
- EUR – drifts to 1.0827.
- JPY – rise slightly at 20-DMA i.e. 130.4.
- GBP – You are struggling to break 1.2450.
- Stocks – US100 -1.96% on 11929, US500 Off -1.30% and…
