Mixed trading across stock markets Asia, China’s stock exchanges have been underperforming, as concerns about the health of its property sector have resurfaced. Evergrande -20.91%-Sales were not as anticipated, and the company was unable to print new notes in accordance with its debt restructuring plan. Futures in Europe and the US are lower. The “higher for longer” message continues to weigh on sentiment and while the US may be heading for a soft landing, Europe is clearly struggling. The increase in energy costs isn’t helping. The 10-year Treasury rate is currently up by 2.8 bp and the 10-year Bund rate is 1.0 bp. EU escalates China tensions with probe to ward off cheap EPS and warns China it will be more assertive on ‘fair trade’. Republicans struggle to agree on a plan that will help them avoid shutdown.
A full, lengthy shutdown of the US government is “likely” at the end of the month and could leave the Fed reluctant to raise interest rates in November.
- FX – USDIndex The ban on smoking has been lifted 105.30. EURUSD The following are some examples of how to get started: GBPUSD You can find out more about this by clicking here. 1.0640 The following are some examples of how to get started: 1.2245 respectively. You can also find out more about the following: The Yen Sell off your and USDJPY “Lift again” 148.45.
- Stocks – JPN225 The following are some examples of how to get started: ASX The stock market rose 0.9% and 0.1%. Wall Street’s modest gains of the morning were erased and it closed in red. The US30 33,964 was down -0.31%. US500 The 4320 index fell by -0.23% and the US100…