Market mind: Dollar glimmers in broad market gloom

📆 9/28/2023 7:43 AM
📰 YahooFinanceCA

⏱ Reading Time:
34 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 63%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

German and Spanish inflation data and European consumer confidence data due today seem unlikely to pierce the gloom that's enveloped markets in recent days. Oil's spike to one-year highs has poured fuel on selling in the bond market and further pumped up the dollar, while global stocks have dropped for nine sessions in a row. The greenback stands at a 10-month high against a basket of other majors, and 10-year Treasury yields are hovering at a 16-year peak.

German share price index DAX graph is pictured at the stock exchange in FrankfurtGerman and Spanish inflation data and European consumer confidence data due today seem unlikely to pierce the gloom that's enveloped markets in recent days.

Lawmakers at loggerheads on Capitol Hill have the U.S. just days away from its fourth partial government shutdown in a decade, which could provoke Moody's into a ratings response. China heads off for a week-long holiday after today, with the yuan squeezed, developer Evergrande's shares suspended again, industrial profits tumbling, and a record number of Chinese planning to eschew overseas travel during the break.

Stocks in Asia fell on Thursday, with the Nikkei dragged nearly 2% lower as a number of companies in Japan went ex-dividend. Rising U.S. bond yields have the 2-year U.S.-Japan spread well above 500 bps and dollar/yen inching closer to 150.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

German Labor Market Shows Signs of Cracking as Economy StrugglesGerman companies are thinking twice about hiring staff amid an increasingly uncertain economic environment, according to a study by the Ifo Institute.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Dollar Gains Heap Pressure on Emerging-Market Stocks, CurrenciesEmerging-market stocks fell to the lowest level since March as a strengthening dollar and elevated US yields damped investor appetite for riskier assets.
Source: BNNBloomberg - 🏆 83. / 50 Read more »