Thursday, January 20, 2022

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    European stocks expected to ease Treasury yields

    European equities on Tuesday could open positively, despite rising bets on speeding rate hikes.

    Traders look forward to a nomination hearing for incumbent Federal Reserve Chairman Jerome Powell later in the day to gain new clues as to the timing and pace of policy normalization.

    In his prepared opening remarks released on Monday, Powell admitted that high inflation is damaging American families.

    Withdrawals of both the dollar and 10-year Treasury yields supported gold ahead of US inflation data scheduled for Wednesday.

    Federal funds futures have been priced with a nearly 90% chance of a rate hike in March and a 90% or more chance of another rate hike by June.

    Goldman Sachs expects the Fed to raise interest rates four times this year, in line with the views of JP Morgan and Deutsche Bank analysts.

    Asian market After the S & P 500 fell five times in a row, it was mixed and traded, making it the longest losing streak in more than three months.

    Investors monitored the latest developments in Covid-19 after the United States recorded a record 132,646 Covid hospitalizations.

    Oil resumed its upward trend after a two-day loss. Bitcoin has recovered to trade above $ 42,000 after falling below $ 40,000.

    Overnight, US stocks succumbed to early selling before the mix was over, as interest rate hikes raised the Treasury’s yield in 10 years to a two-year high.

    The tech-heavy Nasdaq Composite fell 2.7% and then rose slightly as yields fell below highs. The S & P 500 fell 0.1% and the Dow fell 0.5%.

    European stocks closed at a lower price in the session on Monday amid concerns about rate hikes with Omicron. The Pan-European STOXX 600 fell 1.5%.

    Germany’s DAX fell 1.1%, France’s CAC 40 index fell 1.4%, and the UK’s FTSE 100 fell 0.5%.

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    European stocks expected to ease Treasury yields

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