Stock markets mixed as bond yields near one-year highs - 15.3.2021


Top daily news

Global stocks are mixed currently following a mixed session Friday as yields on US 10-year Treasury notes held around 1.628%, after hitting 1.642% on Friday, a high last seen in February last year. Boeing shares jumped 6.82% Friday, Bitcoin is trading at about $60,000 after hitting  $61,000.

Forex news

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% on Friday as Bureau of Labor Statistics reported Producer Price Index surged 2.8% over year in February, after 1.7% increase in January.

Both EUR/USD and GBP/USD reversed their climbing Friday despite UK National Institute of Economic and Social Research report UK economy shrank by 2.9% in January from the previous month, a less severe contraction than expected. Both are lower against the Dollar currently. AUD/USD reversed its climbing Friday while USD/JPY accelerated its climbing with both Australian dollar and yen lower against the Greenback currently.

Stock Market news

Futures on US equity benchmarks are mixed currently after ending mixed on Friday as the 10-year US Treasury note’s yield rose above 1.6 per cent. The three main US stock benchmarks recorded returns ranging from -0.6% to +0.9%.

European stock indexes are mixed currently after ending down on Friday led by tech shares. Asian indexes are mostly retreating today with Shanghai Composite leading losses despite news China's industrial output, investment and consumption in the first two months of the year were all higher compared with the same period in 2020.

Commodity Market news

Brent is edging higher currently with prices nearing $70 a barrel. Prices advanced on Friday on expectations of demand recovery. Prices were supported also by energy services firm Baker Hughes Co. report US drillers cut the number of oil and natural gas rigs operating for the first time since November. The US oil benchmark West Texas Intermediate (WTI) futures fell 0.7% but is higher currently. May Brent crude lost 0.6% to $69.22 a barrel on Friday.

Gold Market News

Gold prices are edging lower today. April gold lost 0.2% settling at $1719.80 on Friday, posting a weekly gain of about 1.3%.

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