Stocks mixed, futures steady as treasuries slip
BNN Bloomberg
European stocks were steady with U.S. futures, while Asian shares rose at the end of a volatile week. Treasuries fell.
European stocks were steady with U.S. futures, while Asian shares rose at the end of a volatile week. Treasuries fell.
In Europe, luxury shares gained after earnings from Cartier owner Richemont beat forecasts, offsetting a drop in travel stocks. Contracts on U.S. gauges were little changed. Asian shares climbed, helped by a rally in Japan. The country’s fiscal stimulus may top 40 trillion yen (US$350 billion), according to a report.
Treasuries resumed a selloff after a trading holiday Thursday as this week’s shock U.S. inflation figures continued to weigh on the market. Five-year notes led losses on concern the price pressure will force the Federal Reserve to raise rates earlier than anticipated. A gauge of the yield curve flattened to the least since March 2020.
The dollar held a rally amid caution triggered by a U.S. warning that Russia may be weighing a potential invasion of Ukraine. Oil, gold and Bitcoin slipped.
While global stocks are set for their first weekly drop since early October, their swings have been muted compared with the gyrations in the bond market. Investor focus on a strong earnings season has tempered worries about higher inflation.
