Traders Edge : Thursday 08 April
Global Markets Update
- U.S. equity markets closed mixed overnight, with the S&P 500 up +0.1%, NASDAQ down -0.1% and Dow Jones closing flat, after minutes from the latest Fed meeting indicated there would likely be “some time” before the conditions are met for scaling back the asset-purchase program of $120 billion per month.
- Long-dated U.S. treasury yields were mixed, with the 2-Yr yield lower at 0.153% and the 10-Yr yield higher at 1.669%.
- European markets. European equity markets closed mostly lower overnight, with both the Stoxx Europe 600 and German DAX down -0.2% and UK FTSE 100 gaining +0.9%, as sentiment was hurt following statement by the EU drug regulator that there’s a possible link between AstraZeneca’s Covid-19 vaccine and a rare blood-clotting disorder. According to data by IHS Markit, Euro-zone companies have returned to broad-based growth for only the second time since the pandemic started, with factories booming and confidence high that vaccinations will soon end the coronavirus crisis, leading to Germany, Italy, Spain and Ireland all seeing business activity rise last month and France halting its contraction.
- Asian markets. Asian equity markets closed mixed overnight, with the Hang Seng down -0.9%, with Tencent Holdings contributing most to the fall after Porus NV announced selloff of 2% stake in the Company at a -5.5% discount. The Shanghai Composite was down -0.1%, Nikkei 225 up +0.1% and KOSPI closed +0.3% higher. China’s foreign-currency holdings dropped for a third straight month in March to $3.17 trillion from $3.205 trillion in February, as the dollar strengthened, and global bond yields rose.