EUROPEAN EQUITIES CONTINUE TO TUMBLE
ON MONDAY as the Chinese yuan breached the critical 7 per dollar level for the first time in a decade.
“The fact that they have now stopped defending 7.00 against the dollar suggests that they have all but abandoned hopes for a trade deal with the U.S.”Analysts suspect China is
controlling its currency as retaliation
for recent plans by the US to hike tariffs an additional 10 percent.
FTSE 100 -2.71%,
German DAX -1.93%,
CAC 40
-2.27%,
STOXX Europe 600-2.43%. The
10-year
Gilt lost 3.6 basis points.
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THE US ADDED 164,000 JOBS IN JULY according to the Department of Labor, just below the expected figure of 165,000. The unemployment rate remained unchanged at 3.7%. Despite the report of steady job growth, stocks fell again today as investors continue to focus on trade threats. The 10-Year Treasury note fell to 1.846%, its lowest yield in nearly 3 years. S&P -0.73%, DOW -0.37%, NASDAQ -1.32%.
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THE US ADDED 164,000 JOBS IN JULY according to the Department of Labor
, just below the expected figure of 165,000. The unemployment rate remained
unchanged at 3.7%.
Despite the report of steady job growth, stocks fell again today as investors
continue to focus on trade threats. The
10-Year Treasury note
fell
to 1.846%, its lowest yield in nearly 3 years.
S&P
-0.73%,
DOW
-0.37%,
NASDAQ
-1.32%.
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EUROPEAN INDICES PLUNGE
after a statement from the U.S. indicating an additional
10 percent in tariffs on Chinese goods
ending a brief trade truce. Asian and U.S. markets were also trading lower on the announcement.
Oil futures tumbled
more than 7 percent overnight marking the
largest drop in four years
before recovering losses.
FTSE 100 -2.38%,
German DAX -3.04%,
CAC 40-3.39%,
STOXX Europe 600
-2.47%. The
10-year
Gilt slipped 4.3 basis points.
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THE MARKETS ROSE THEN FELL SHARPLY TODAY after the White House announced an additional 10% Tariff on Chinese goods beginning next month. The news came after a 300 point rebound from Wednesday’s interest rate cut-related losses.The 10-Year US Treasury note fell 11.3 basis points. S&P -0.90%, DOW -1.05%, NASDAQ -0.79%
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THE MARKETS ROSE THEN FELL SHARPLY TODAY
after the White House announced an additional 10% Tariff on Chinese goods beginning next month. The news came after
a 300 point rebound
from
Wednesday’s
interest rate cut-related losses.The 10-Year US Treasury note fell
11.3 basis points.
S&P -0.90%,
DOW -1.05%,
NASDAQ
-0.79%
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EUROPEAN INVESTMENT GRADE DEBT ROSE AGAINST JUNK BONDS
in net prices linked to actual trades. The Bank of England further
slashed its growth forecasts citing
Brexit is impacting the economy more than initially anticipated.
The bank gave no indication of a rate cut
as central bank globally are cutting rates most recently the
US Federal Reserve lowered rates by 25 basis points.
FTSE 100 -0.14%,
German DAX +0.38%,
CAC 40
+0.59%,
STOXX Europe 600
+0.38%. The
10-year
Gilt lost 2.6 basis points.
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US STOCKS FELL TODAY AFTER the Federal Reserve announced it will cut interest rates for the first time since 2008. According to Jerome Powell, the 25 basis point cut is a ‘mid-cycle adjustment’ and future cuts may not be necessary. He added that it will provide insurance against global economic risks and boost inflation. The 10-year note lost 4.2 basis points. S&P -1.09%, DOW -1.23%, NASDAQ -1.19%.
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US STOCKS FELL TODAY AFTER the Federal Reserve announced it will cut interest rates for
the first time since 2008. According to Jerome Powell, the
25 basis point cut
is a ‘mid-cycle adjustment’ and future cuts may not be necessary. He added that it will provide insurance against global economic risks and
boost inflation.
The 10-year note lost 4.2 basis points
. S&P -1.09%,
DOW -1.23%,
NASDAQ
-1.19%
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EURO ZONE GDP GREW BY A DISMAL 0.2 PERCENT during the second quarter of 2019 down from 0.4 percent during the first three months of 2019.
Slowing GDP across the euro zone
strengthens a case for the European Central Bank to initiate additional monetary easing.
“We expect the ECB to respond to this broad-based economic weakness – which we think is likely to continue – with a round of extra policy easing, including restarting QE and cutting rates.”
FTSE 100 -0.81%,
German DAX +0.39%,
CAC 40+0.27%,
STOXX Europe 600
+0.18%. The
10-year
Gilt lost 1.1 basis points.
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