Bond market says something
Yesterday’s run on Treasury bonds, which saw the yield on the 10-year note fallfor up to 1.17%, it is being attributed to new fears of pandemic and disappearanceconcerns about inflation. Investors also have to face the apparentworsening US-China relations as some may begin to re-evaluateoptimistic forecasts of global growth. President Joe Biden said yesterday thatbelieves the inflation jump is temporary, while emphasizing that the Fedit is independent and takes whatever measures it deems necessary
Bitcoin drop
The largest cryptocurrency has dropped to less than $30,000 for the first time in about a year.month. Other virtual currencies also fell, with the Bloomberg Galaxy Crypto Indexfalling more than 4.5%. The $30,000 level was seen by some traders as a point ofsupport for the token, so additional drops from here could be the beginning oflarger movements in digital assets. Yesterday, Treasury Secretary Janet Yellen,pressured major US regulators to “act quickly” on the newrules for policing so-called stablecoins in an official statement issued in thefollowing a meeting of the President’s Working Group on MarketsFinancials
Pandemic
Apple Inc. is postponing the return to office deadline by at least one month untilOctober, at the very least, as it joins the growing number of companies thatre-evaluate back-to-office plans in light of the delta variant. The reopening of theUnited Kingdom yesterday, with the end of all legal restrictions on Covid, it was something like awet abortion, with the prime minister isolating and the US warning its citizens tonot travel to the country. East Asia is still trying to deal with the increase in cases,while half of Australia’s population is now imprisoned.
Mixed markets
Global equities are generally trying to regain some of the ground they lost yesterday,as investors’ attention turns to profits. Overnight, the indexMSCI Asia Pacific fell 0.7%, while Japan’s Topix Index closed 1% below. AtEurope, Stoxx 600 Index gained 0.1% at 6:50 am EDT with UBS Group AGrising with strong gains. The S&P 500 futures pointed to a smallbullish movement at the opening, the 10-year Treasury yield was 1.172%, theoil fell below $69 a barrel and gold rose
Coming
Building permits and housing data begin in June for the US at 9:30 am.Amazon founder billionaire Jeff Bezos and three others are slated to flysoon into space at 10:00 am. US Transportation Secretary Pete Buttigiegspeaks at the Washington Economic Club. It’s another busy day for profits with thereports from Philip Morris International Inc., Halliburton Co. and United Airlines Holdings Inc.Investors will be keeping an eye on Netflix Inc.’s results as the company announcednew products recently.
Source:https://wintrademarkets.com/
