Stock The markets grew slightly, as sentiment improved after the Wall Street close. The bank jitters are still present, and the gains have been modest. EGB yields move higher in early tradingThe short end of the spectrum underperforms. Bonds are rallying Yesterday, despite ECB’s rate hikE and Lagarde’s insistence that it wasn’t the last. Markets speculate on a rapid reversal of US rates, and are wondering how long ECB policies can diverge with the Fed outlook. Treasury yields Bonds are also edging higher today, but the rally has now been stopped. German manufacturing orders plunged -10.7%. Chinese The factory activity in April was unexpectedly reduced.
The markets continue to digest various factors in advance of today’s NFP. This includes the stances of the FOMC, ECB and the deepening jitters regarding the regional bank system.
- FX – USDIndex is within yesterday’s trading range, currently at 100.94, As data on productivity and labor costs suggested, the Fed might not be done. The Yen Settled at 134.00. EURGBP Dive this morning 0.8740While Cable Breaking its own 1.2600 high.
- Stocks – The US500 It was a mess -0.72%, You can also find out more about the following: US30 It was a down by -0.86% You can also find out more about the following: US100 Slid –0.46%. Apple…