World stocks waver as investors catch central bank jitters

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LONDON, Jan 31 —World stocks stumbled and bond yields edged lower today as hotter than anticipated European inflation numbers jangled investor nerves ahead of a slew of earnings...

LONDON, Jan 31 —World stocks stumbled and bond yields edged lower today as hotter than anticipated European inflation numbers jangled investor nerves ahead of a slew of earnings reports, central bank meetings, and key US economic data.

Today sees the release of fourth-quarter labour costs, while Friday brings the all-important January non-farm payrolls report. “Recent corporate results, especially 2023 guidance, indicate a negative outlook leading us to maintain a reduced position in equities,” he said. “This whole week is about rate hikes but from a credit markets point of view, credit spreads have traded back to the pre-Ukraine invasion levels,” said Azhar Hussain, head of global credit at Royal London Asset Management.

At the end of the Fed’s two-day policy meeting tomorrow, investors will be glued to Chair Jerome Powell’s news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated.

 

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