(News Bulletin 247) – The New York Stock Exchange is expected to rebound on Wednesday morning against a backdrop of appeasement in bond yields, as fears of a slowdown in global growth grow.
Half an hour before the opening, the ‘futures’ contracts on the American stock exchanges advance from 0.1% to 0.2%, announcing a moderate increase at the opening.
The series of disappointing PMI indices in the European private sector published overnight has fueled the recent climate of concern surrounding the health of the global economy.
European stock markets were moving in spite of everything on an uncertain note on Wednesday, the promise of a more accommodating policy from the ECB relegating fears of stagflation or even recession to the background.
The prospect of an upcoming break in the cycle of rate hikes by the ECB is helping to drive down bond yields in the euro zone: the German tenth thus fell by eight basis points to 2.56%.
As for US rates, the yield on ten-year Treasuries fell to 4.28% after having established a peak of more than 16 years yesterday, beyond 4.36%.
In this context of deteriorating economic conditions, investors are awaiting several US statistics, including the PMI index, which could still surprise positively.
Oil prices continue their consolidation linked to fears for global demand. Both benchmark crude contracts are losing around 1.2% pending the release of US stocks.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
