Stocks meander as US jobs dry up, kiwi jumps on RBNZ surprise

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Stocks struggled to make headway on Wednesday, the dollar nursed losses and bonds clung to gains, as signs of a slowing U.S. labour market made investors nervous about the economic outlook, while a bigger-than-expected rate hike lifted the kiwi dollar.

Futures indicated European markets were set for a broadly lower open, with Eurostoxx 50 futures down 0.26%, German DAX futures down 0.12%. FTSE futures however were up 0.04%.

"The current crisis is not yet over," he said. "And even when it is behind us, there will be repercussions from it for years to come." Two-year yields are at 3.864% and 10-year yields at 3.352%, with the whole U.S. yield curve below top of the Fed funds rate window, which is at 5%.

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Can’t be.

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