Europe opens stronger after weak Asian session US futures mixed Global bond selloff resumes on stronger economic outlook US equity traders have held on, for now, despite rising rates on the horizon Russell 2000 hits new record Key Events
Shares in Europe advanced for a second day—albeit with some whipsawing—on the tails of a weak session in Asia earlier this morning. US futures are currently mixed. and futures are pointing lower as of this writing while and futures are in the green.
The has been edging higher, helped by the recovery of Italian shares on the , after Italian political fears, which turned out to be unfounded, roiled local markets on Wednesday.
Global equities took a downturn in the Asian session as the Treasury yield moved past 3.1 percent, after closing above that level yesterday, for the first time since mid-2011. This multi-year high signals the market expectation for more quickly than expected—namely another three times this year. As well, this outlook for higher rates makes risk assets such as equities less attractive.
Shares on China’s declined for a second day, down 0.5 percent this morning, for a two-day total loss of 1.2 percent; Hong Kong’s dipped 0.4 percent, for a three-day straight total loss of 1.9 percent.
South Korea’s dropped 0.45 percent, falling three days out of the past four, an cumulative decline of 1.2 percent. Australia’s slipped 0.2 percent while the gained 0.15 percent
Japan’s , however, bucked the trend. It advanced 0.45 percent, even as the weakened by 0.15 percent, providing export-sensitive local firms a stronger revenue outlook.
Global Financial Affairs
Positive momentum from yesterday’s US session failed to carry through to Asia morning. The gained 0.41 percent, bouncing off the 100 DMA, a nice recovery from Tuesday’s bloodbath. The advance was led by (+1.19 percent). The