The overnight JOLTS report on job openings – closely watched by the Federal Reserve – pointed to extremely tight labour conditions, defying the Fed’s tightening efforts so far and bolstering the case to do more.To discourage speculation about rate reductions next year, New York Fed president John Williams said on Tuesday that the central bank likely needed to get the policy rate above 3.5%, and was unlikely to cut rates at all in 2023.
“Financial conditions are a key transmission mechanism for monetary policy, and equities are part of that.” Chinese blue chips retreated 0.5%. Hong Kong’s Hang Seng slumped 1.8%, with its tech shares tumbling 2.5%. US equity futures though pointed to some respite, with S&P 500 e-minis indicating a 0.3% rebound from the index’s 1.1% slide on Tuesday.Earlier on Tuesday, data showed German inflation rose to its highest in almost 50 years in August, strengthening the case for the European Central Bank to also go for a super-sized rate hike next month.The two-year US Treasury yield, which is relatively more sensitive to the monetary policy outlook, hit a fresh 15-year high at 3.
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Asian stocks seek footing as investors focus on payrollsInterest rates and health of China’s economy also at forefront of investor concerns You're indeed a great woman,I never expected this from you,i assure you that I will bring more clients to your crypto company because of what you've done in my life,I promise to let the word know about you. Your work speaks volumes of the kind of a woman you are GregoryLillian5
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Business Maverick: Markets: Asia continues global stock slump as Fed tightening fears flareAsian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong US jobs data.
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