Ready or not! Here is US inflation data | – #Ready #inflation #data
From Ankur Banerjee Europe and an outlook on the day ahead in global markets
The shocking bankruptcy of Silicon Valley Bank and USA Investors are struggling to find their appetite for risk this week, with markets jittery following measures by authorities to curb contagion risks.
And yet, global bank stocks were hit wildly, with Japanese banks falling to their lowest levels in nearly three months on Tuesday. Dollar holding steady near one-month lows, oil prices It falls more than $1 and the MSCI ex-Japan index falls to a more than two-month low. And two years USA The Treasury yield rose 16 basis points to 4.109% on Tuesday, far from last week’s high of 5.085%.
All of this means that the market is willing to believe that the Fed will not hike rates next week, with a rate hike not too far away. Traders are even pricing in a rate cut by the end of the year, a far cry from last week’s expectations that rates would remain above 5% until 2023.
The odds may not shift to Europe, as futures indicate stocks could open higher. Whether they will make any profit remains to be seen. Investors saw the STOXX, which posted its biggest one-day interest rate drop in a year on Monday bank looking at the index, Europe bank they will be eager to see if the worst is over for their stock.
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For February USAof inflation data will be focused on, with consumer prices seen rising at a solid pace, but economists are divided on whether the data will be enough to prompt the Fed to raise rates. again next week.
The yield of US Treasuries, which is sensitive to market changes, records a historic decline Reuters Graphics
Key developments that could affect markets on Tuesday:
Economic events: CPI data from the Netherlands, Finland, Spain and the United States
Reporting by Ankur Banerjee; Edited by Muralikumar Anantharaman
Our standards: Thomson Reuters Trust Principles.
2023-03-14 09:41:55
Source – reuters
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