Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields.
Mar 4, 2021 03:22 GMTFXStreet News
S&P 500 Futures struggle to keep 3,800 as risks dwindle in Asia.
UK budget, US stimulus progress in the Senate join statements from ECB policymakers to recall reflation fears.
Vaccine optimism, mixed data can’t entertain traders before Fed’s Powell, second-tier US job figures.
S&P 500 Futures trim early Asian losses, currently down 0.18% to 3,808, but remains pressured as traders look for fresh clues amid rising Treasury yields. Also challenging the mood could be a lack of major data/events ahead of a speech from Federal Reserve Chairman Jerome Powell, at 17:05 GMT.
With the UK budget and progress on the US covid relief bill promising more inflation of funds in the system, reflation fears jump back to the table on Wednesday. Also favoring the bond bears could be the ECB policymakers’ hints that the jump in the Treasury yields doesn’t have legs to worry about.
European stocks closed lower on Thursday as a renewed rise in U.S. bond yields and expectations of a jump in inflation hit risk appetite, with heavyweight miners and technology stocks leading. | March 9, 2021
European stocks closed lower on Thursday as a renewed rise in U.S. bond yields and expectations of a jump in inflation hit risk appetite, with heavyweight miners and technology stocks leading losses.
Stocks Slip Amid Powell s Comments morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.