The Actions Global stocks were stable on Monday after the president’s decision Joe Biden The withdrawal from the electoral race at the weekend injected some optimism into the markets, while a surprise rate cut by China’s central bank failed to cheer Asian markets.
Biden announced on Sunday that he would drop out of the race and endorsed the vice president Kamala Harris for the Democratic nomination. Markets took the news in stride, with S&P 500 stock futures gaining 0.5%, while U.S. dollar futures Nasdaq added up to 0.8%.
Meanwhile, the MSCI world equity index, which fell 2.1% last week in its worst weekly performance since April, moved into positive territory, up 0.04%. Meanwhile, the STOXX 600 rose 1%, reversing part of last week’s 2.6% drop.
Stability in the dollar and cryptocurrencies
For its part, the dollar was trading stable against a basket of currencies, while cryptocurrencies – which have tended to benefit from the growing possibilities of a return of Donald Trump to the White House– stabilized after falling on Sunday following Biden’s announcement.
He bitcoin, which hit a six-week high last week in its strongest weekly rally since February, was trading more stable on Monday, up 0.5% at $67,356.
The prices of the US Treasury bonds The yields on the benchmark 10-year note strengthened, pushing down 1.6 basis points to 4.221%. Yields rose last week as investors priced in the prospect that a Trump administration would likely favor large spending increases that would further undermine the country’s already strained fiscal position. USA.
In the commodity markets, meanwhile, the gold rose 0.2% to $2,404 an ounce, far from last week’s record of $2,483.60. In addition, the Brent was down 0.5% at $82.22 a barrel, as were U.S. futures, which fell 0.5% to $79.72.
The Asian market revolutionized
In Asia, the MSCI index broader range of actions Pacific Asia Outside Japan, it lost another 0.7%, after having lost 3% last week.
He People’s Bank of China cut short-term rates by 10 basis points, lowering long-term borrowing costs and bond yields.
The move comes after Beijing published a document on Sunday outlining its ambitions for the economy.
Source: Ambito
