Morning Recap Tuesday 11 January 2022

Global Markets Update    



Equity markets closed slightly weaker overnight, with the S&P 500 down -0.1%, NASDAQ flat and Dow Jones closing -0.4% lower. U.S investors have been cautious in anticipation that the Federal Reserve is preparing to raise rates. The resurgent variant of the Covid-19 virus threatens global growth. Data on inflation, set to be released this Wednesday is expected to add additional pressure on the central bank to tighten.

Long-dated U.S. treasury yields were mixed, with the 2-Yr yield lower at 0.899% and the 10-Yr yield higher at 1.760%.


European equity markets closed weaker overnight on rising bond yields and fears of tighter monetary policy, with the Stoxx Europe 600 down -1.5%, German DAX down -1.1% and U.K. FTSE down -0.5%.


Asian equity markets saw mixed results at the close, with the Hang Seng up +1.1%, and the Shanghai Composite gaining +0.4%, whilst the KOSPI was down -1.0% and Nikkei 225 closing flat. Investors remain cautious in anticipation of the upcoming release of U.S. and China inflation data.

WTI oil is trading at US$78.39 a barrel. Iron ore price is at US$117.32 per ton. Spot gold is trading at US$1,801 per oz.


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