![]() ![]() ![]() Rate-hike bets have now also picked up in Australia and New Zealand, where inflation accelerated to the fastest pace in 10 years. yields surged after the Bank of England warned on the need to respond to price pressures. The yield on the 10-year Treasury note climbed to 1.59 per cent while U.K. “But these issues are not resolved by any stretch of the imagination.” “The issues that caused the pullback have quieted over the past two weeks, which has rightly allowed stocks to bounce,” wrote Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. The S&P 500 has now pared back losses from an all-time high to about 1.1 per cent. However, oil’s decline from a session high eased some fears of inflation and policy tightening. The S&P 500 added 0.3 per cent and the Nasdaq 100 gained 1 per cent in a continuation of last week’s gains when solid corporate earnings and economic reports were enough to outweigh concerns about energy shortages and supply-chain disruptions.Įarlier on Monday OPEC+ failed to meet output targets and Russia opted against sending more natural gas to Europe, pushing commodity prices higher. stocks extended a rebound on Monday as a whipsaw in energy prices relieved some pressure on the market.
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