The second half of the year started with gains in global stock indexes on Friday ahead of the long U.S. holiday weekend, while the 10-year Treasury yield fell the most since COVID-19 hit markets in March 2020. Copper prices slumped to their weakest in 17 months. Stocks were lower early in the New York session but rallied late to end higher.
The second half of the year started with gains in global stock indexes on Friday ahead of the long U.S. holiday weekend, while the 10-year Treasury yield fell the most since COVID-19 hit markets in March 2020. Copper prices slumped to their weakest in 17 months. Stocks were lower early in the New York session but rallied late to end higher.
* MSCI AxJ index flat, Hong Kong on holiday. * U.S. dollar repairs overnight dip; DXY at 104.83. * China PMIs turn positive and markets steady. By Tom Westbrook. Bonds slipped, the dollar edged higher and Asia's stockmarkets made a shaky start to the second half on Friday, as investors grow increasingly nervous about the global economic outlook.
Gold prices edged lower on Friday, and
were on track for a third straight weekly decline, as rising
U.S. Treasury yields weighed on demand for zero-yield bullion.
FUNDAMENTALS
* Spot ...
* S&P 500 closes book on steepest first-half slide since 1970. * Treasury yields slip for third straight day. * Oil falls on uncertainty over future OPEC+ output. By Caroline Valetkevitch. The MSCI global stock index notched its biggest first-half of a year percentage drop on record on Thursday, while the U.S. benchmark S&P 500 had its steepest percentage drop for the first six months since 1970.
Steep losses in stocks and bonds, dizzying market swings and a Federal Reserve intent on curbing the worst inflation in more than forty years have been among the hallmarks of U.S. markets in the first half of 2022. The S&P 500 finished the initial six months of 2022 with a 20.6% loss, shedding some $8.5 trillion in market value as the index logged its steepest first-half decline since 1970.
Treasury yields slid for a
third straight day on Thursday after soft U.S. consumer spending
data and still elevated consumer prices kept concerns alive that
the Federal Reserve will brake growth more ...
* U.S. stocks down in early trading. * Treasury yields slip for third straight day. * Oil falls on uncertainty over future OPEC+ output. By Caroline Valetkevitch.
* CANADA AUCTION OF C$4 BILLION 2024 BOND YIELDS AVERAGE 3.139% * CANADA 2.75% 2024 BOND AUCTION YIELDS LOW 3.133%, HIGH 3.144% Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/nominal-bonds/
Shorter-dated German bond yields fell to the lowest level in almost four weeks and the cost of insuring exposure to corporate debt surged on Thursday as markets continued to trade on growth risks. The fastest interest rate hiking cycle in decades to combat soaring inflation has hit consumer demand, adding to investor fears of a growth slowdown or outright recession.
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