Stocks extend slide as traders take an axe to rate bets

© Reuters. A man stands in front of an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan, July 28, 2023. REUTERS/Kim Kyung-Hoon/File Photo

The data has prompted traders to slash their bets on where U.S. rates will go this year. Futures now point to about 90 basis points worth of cuts from the Fed by December, roughly four quarter-point drops, compared to 110 bps prior to the data release and 160 bps at the end of 2023. "When you get a jump like this, and the year-on-year figures really show this rather than the monthly ones, that’s a shock because it just shows that it's not all plain sailing and we may get more increases in inflation," Trade Nation senior market analyst David Morrison said.

"If they do try intervention, I think it'll be near... the high from October 2022 and the high we saw in mid-November," said Tony Sycamore, a market analyst at IG.Yields on 10-year U.S. Treasuries struck their highest in over two months following Tuesday's inflation report, which gave the dollar a burst of strength.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Asian stocks move little in holiday-thinned trade; CSL drags on AustraliaAsian stocks move little in holiday-thinned trade; CSL drags on Australia
La source: Investingcom - 🏆 450. / 53 Lire la suite »

U.S. stocks muted with key inflation reading, earnings ahead this weekU.S. stocks muted with key inflation reading, earnings ahead this week
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Markets Week Ahead: Gold Dips as Stocks Fly; EUR/USD, GBP/USD Await US InflationThe week ahead is likely to bring elevated volatility for stocks, gold prices, U.S. Treasury yields and currency markets, courtesy of a high-impact event on the U.S. economic calendar: the release of the January inflation report.
La source: DailyFX - 🏆 305. / 63 Lire la suite »

Defense stocks boosted as Senate OKs Ukraine aid, House may pass 'some' of itBiden calls for House to vote on bill and criticizes Trump’s NATO comments
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Beyond the 'Magnificent 7': Morningstar's top strategist names other stocks to ownThe 'Magnificent Seven' are running out of steam, says Morningstar's chief markets strategist, naming other stocks for investors to consider.
La source: CNBC - 🏆 12. / 72 Lire la suite »

These stocks are poised to lead tech beyond the ‘Magnificent Seven’Valuations are attractive in AI and software, tech-sector analyst says
La source: MarketWatch - 🏆 3. / 97 Lire la suite »