The main Actions The global markets were headed on Friday for their worst month since September, although futures markets believe that the good results of the technology companies will trigger a relief hike in Wall Street later in the day and will help traders recover some losses.
The world stock index MSCI It lost 3.4% in the month, although it gained 0.2% in the session. Global equities have faltered this month as market hopes for a quick cut in U.S. interest rates fade. Federal Reserve this year, after a series of readings of the inflation in USA above expectations.
Even so, the contracts that bet on the Nasdaq 100 with great technological weight on Wall Street, rose almost 1%, while those of the benchmark S&P 500 gained 0.8% after the profits of Alphabet and Microsoft will exceed estimates.
These movements occurred before the publication on Friday of new data on the basic personal consumption expenditure in the United States, the Fed’s preferred measure of inflation, which could further dispel rate cut hopes and strengthen the dollar.
The pan-European index STOXX 600 rose 0.7%, although it is still heading for a monthly drop of 1.4%. He euro It was last trading at $1.072, down 0.6% against the greenback this month.
On the other hand, Asian values excluding Japan added 0.8%, the Topix Tokyo gained 0.9% and the Brent crude oil It advanced 0.6%, to $89.53 a barrel.
He and in was volatile, hitting a new 34-year low after the Bank of Japan kept monetary policy loose at its last meeting, rising briefly as traders speculated that Japanese authorities might intervene, before falling again. In a wild session, the yen weakened to 156.82 per dollar, suddenly rebounded to 154.97, then retreated again.
According to Luca Paolini, of Pictet Asset Management, the yen is trading 40% below its fair value. “We underestimate the potential for something to go very wrong when you have a currency that is totally out of alignment with the (economic) fundamentals. The sooner rates rise, the better,” he said.
He Treasury bond yield The US two-year bond, which reflects short-term rate expectations, was around 5%. The return on the benchmark 10-year debt fell 2 basis points to 4.706%, still well above its level of below 4.1% at the beginning of March.
Source: Ambito
