A look at the day ahead in U.S. and global markets from Mike Dolan. Amid all the chaos in British bond markets, the forced intervention by the Bank of England to buy gilts has given some investors a crumb of comfort about the limits of central bank tightening.
STOCKS: The benchmark BSE Sensex fell 188.32 points, or 0.33%, to 56,409.96, as futures indicated that the overnight rally in U.S. equities was unlikely to sustain.
A look at the day ahead in U.S. and global markets from Mike Dolan. Amid all the chaos in British bond markets, the forced intervention by the Bank of England to buy gilts has given some investors a crumb of comfort about the limits of central bank tightening.
Yields on British government bonds rose moderately on Thursday, a day after they plunged when the Bank of England said it would temporarily buy long-dated debt in a bid to quell a gilts sell-off that threatened the country's pension funds.
* Stocks slide again as concerns resume. * Dollar pushes back towards 20-year high. * Pressure back on UK bonds, pound after brief BoE respite. * China says stabilising currency top priority. By Marc Jones. Investors pedalled into another cycle of selling on Thursday as the dollar tightened its hold on the currency markets, recession fears sapped stocks and bonds suffered more interest rate pain.
Euro zone government bond yields rose on Thursday as German data shifted the focus of investors to surging inflation as they resumed selling gilts after the Bank of England stepped in to quell a storm in the UK market.
STOCKS: The benchmark BSE Sensex fell 153.73 points, or 0.27%, to 56,444.55, while the broader NSE index gained 3.75 points, or 0.02%, to 16,862.35, after staying higher in early session, as traders cut positions ahead of monthly derivative expiry on Thursday.
Oil prices fell on Thursday, with a stronger dollar paring the previous day's more than $3 gain, though losses were capped by indications that the OPEC+ producer group might cut output.
Japanese government bond yields fell almost across the board on Thursday, tracking global peers after the Bank of England announced an emergency bond-buying programme in order to cool down a plummeting gilt market.
* Sterling drops 1% in Asia, below $1.08. * Stock bounce runs out of puff; MSCI AxJ up just 0.5% * Truss, BoE speakers on the radar. By Tom Westbrook. Asian share markets rose on Thursday after Britain's central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling remained under pressure.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required