On Wednesday, October 5, the US stock index futures fell, Nasdaq futures fell by more than 1%, Dow futures and S&P 500 futures fell by more than 0.9%. European stocks fell more, with Germany DAX index , UK FTSE 100, and European Stoke 50 falling by more than 1%.
Wall Street News mentioned that the recent market has continued to violently expectation of hikes in hikes in has brought good news to European and American stock markets and bond markets. However, today's market performance may suggest that many investors believe that the market's expectations for the "Feder's turn" may be a bit too much.
Barclays European equity strategy head Emmanuel Cau wrote in a report today:
"It is necessary to prove that economic growth is slowing and inflation is falling before central banks can be expected to turn dovish...so we suspect that the stock market has not yet completely got out of the predicament."
At the same time, traders are still waiting for the blockbuster non-farm employment data released on Friday as the "catalyst" for the next move. Currently, the market expects to add 263,000 non-agricultural jobs in September. Lindsey Bell, chief market and currency strategist at Ally, said:
"To keep the market higher, employment data must meet or be lower than expectations."
Stock market: European stocks fell wider, the three major US stocks futures index fell together
On Wednesday, European stocks opened slightly lower, and then the decline further expanded. As of press time, the European Stoke 50 index fell 0.85%, the German DAX index fell 0.83%, the UK FTSE 100 index fell 1.18%, the French CAC 40 index fell 0.72%, and the Italian FTSE MIB index fell 1.47%.
In terms of US stock futures, the three major US stock futures indexes fell. As of press time, Dow futures, mainly blue-chip stock , fell 0.83%, S&P 500 futures fell 0.88%, and Nasdaq futures, mainly technology stock , fell more than 1%.
bond market: US bond prices fell across the board, while most British Treasury bonds fell
In terms of US bonds, the prices of US bonds that have risen for many consecutive days fell across the board today. As of press time, the 2-year U.S. Treasury yield was 4.1274%, while the 10-year U.S. Treasury yield rose by 9 basis points to 3.707%. In terms of
British bonds, the price of 1-year and above British Treasury bonds fell across the board. As of press time, the yield on the 2-year UK Treasury bonds rebounded above 4%, first at 4.0380%, and the yield on the 10-year UK Treasury bonds was 4.0285%.
It is worth mentioning that as of press time, the average interest rate of 2-year fixed-rate mortgage loans in the UK exceeded 6%, the highest since 2008.
foreign exchange market: US dollar index fell, pound rebounded, euro gave up the increase
As the Tras government "turned 180 degrees", it abandoned the previous plan to cancel the 45% highest income tax rate. The pound, which had fallen into "British peso ", stabilized and rebounded, and the pound against the US dollar exchange rate rebounded above 1.1, leaving the "dollar parity". Today, the exchange rate of pound fell slightly. As of press time, the pound pound was 1.14 against the US dollar. In terms of the
USD index, the USD index rose slightly today and is now at 110.69.
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