The CPI will not be published until Thursday, and until then the tone will be set by Friday’s data, which showed that the US economy unexpectedly added the highest number of jobs in six months.
The Markets slashed bets on 50 basis point rate cut in the Federal Reserve’s next monetary policy announcement, on November 7, which a week ago were above 50%.
The yield on public debt rises in a session in which the yield on 10-year notes touched 4% for the first time in two months, 2 basis points more than on Friday, when it shot up 13 basis points.
Wall Street: how markets operate after employment data
The European actions, which advanced after the employment data were released, fell 0.2%, with increases in banks, which benefit from the increase in rates, and falls in the real estate sector.
On Wall Street, the S&P 500 futures fell 0.3%, although the index improved 0.9% on Friday and is once again at historical highs.
“What came out last week is quite obvious. If we stick to the macroeconomic situation, there is no recession, there is no inflation, central banks are in a rate cutting cycle and, in addition, China is also contributing to this story, so let’s enjoy it,” said Samy Chaar, chief economist at Lombard Odier.
“If we want to think about the risks, the purely economic ones have passed – except for some less simple stories in Europe centered on Germany – but there is geopolitics and the US elections are getting closer,” he added.
Brent crude futures rose 1.3% to $79.08 a barrel. just below the one-month high reached on Friday, after recording the biggest weekly rise in more than a year last week.
Asian stocks advanced, although Chinese onshore markets will remain inactive for holidays until Tuesday, with investors waiting to see if the rally in stocks continues following news of incoming economic stimulus.
He Increase in US bond yields favors the dollarespecially against the yen, which reached 149.10 units for the first time since August 16.
The dollar index, which compares the greenback with a basket of six major currencies, was trading at 102.5 units, near the seven-week high reached on Friday. Gold was trading stable at $2,650 an ounce.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
