NEW YORK, July 30 - MSCI's global equities gauge lost ground on Tuesday as investors were jittery ahead of major corporate earnings reports and central bank meetings, while concern about the global economy pushed oil prices lower.
Praveen said some investors also worried about escalation in the Middle East after an Israeli air strike targeted a senior Hezbollah commander in Beirut's southern suburbs late on Tuesday in what Israeli military said was retaliation for a cross-border attack that killed 12 children and teenagers. In currencies, the Japanese yen gained on news reports that the Bank of Japan is considering raising rates to 0.25% when it concludes its two-day meeting on Wednesday.
In U.S. Treasuries, the yield on benchmark U.S. 10-year notes fell 3.5 basis points to 4.143%, from 4.178% late on Monday. The 30-year bond yield fell 3.2 basis points to 4.4013% from 4.433% late on Monday. "Absent that, the market would be short-term disappointed. Ultimately, we think the data will continue to show a much normalized labor market, if not weak, along with an inflation that's running in the Fed's target zone," Urano said.
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