stock markets reach their Friday fifth straight day of gains as bonds head for their best month since 2008as a record monthly drop in the euro zone inflation rate raised investor expectations ahead of similar US data later.
With an action-packed first quarter also drawing to a close, world stocks consolidate a rise of 6% so far this year. The bonds government have gained as much as 5%, gold is up 8%, while oil is down and the dollar has barely moved.
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The inflation figures for the eurozone showed that consumer prices rose by 6.9% in March after a rise of 8.5% in February, which represents lto steeper deceleration since Eurostat started collecting data on 1991.
“The economy is slowing down, but slowly,” he said. Hans Peterson, of the investment manager SEB. “So later we will have to see what the central banks do.”
The main European stock markets and Wall Street futures improved around 0.3%after the actions asian they will register during the night his first breakthrough in March in four years.
That part of the world has cheered up thanks End of COVID restrictions in China. MSCI’s index of Asian stocks excluding Japan is up 3.6% year-to-date, after gaining 12% in the last quarter of 2022.
He nikkei Japan rose 1% and stocks in China and Hong Kong rose modestly after Chinese PMI data showed the recovery in the service sector was picking up pace and manufacturing activity expanding faster than expected.
Wall Street prepares for another modest rise after tech gains on Thursday but declines at regional banks after Treasury secretary, Janet Yellensaid that banking regulation and supervisory standards need to be re-examined in the wake of the recent turmoil.
The markets will refocus on inflation and in the prospects of Federal Reserve interest rate hikesin the hope that banking problems remain largely contained.
The Treasury bond The US have had a very successful month, with the two-year yield falling 68 basis points to 4.1120%, the biggest monthly drop since the financial crash of 2008. Ten-year returns lost 35 basis points this month, to 3.5602%, confusing those who thought they would rise.
The movement in the markets foreign exchange it was subdued, but the dollar was headed for a monthly decline of 2.7% against a basket of six major currencies, albeit only 1.1% in the quarter.
He eurowhich hit a one-week high against the dollar overnight on German inflation data, fell back below $1.09 on euro zone data but remained on track for a 3% monthly gain.
He and inwhich has benefited from safe-haven flows, is on track for a 2.5% gain on the month, while emerging market currencies were also mostly higher.
In the raw Materialsthe prices of raw were stable but are headed for a monthly decline and the gold it was around the highest since April last year, accumulating a monthly improvement of more than 8%, to $1,980.20 an ounce.
Source: Ambito
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