U.S. Futures Slip From Record Highs; Dollar Falls: Markets Wrap
Bloomberg 1 hr ago Andreea Papuc
(Bloomberg) U.S. equity futures slipped while European stocks held steady on Monday as investors awaited a fresh round of corporate earnings with global shares sitting at record highs. The dollar slid.
S&P 500 Index contracts dropped modestly from a record chalked up last week as earnings season continued, with IBM and United Airlines Holdings Inc. due to report. Shares in the Coca-Cola Company rose in pre-market trading after comparable earnings per share beat analyst estimates. In Europe, the Stoxx 600 Index pared an earlier advance to trade little changed.
Cost of Treasuries-Led Rout Seen as Global Bond Sales Falter
Bloomberg 3/4/2021 Enda Curran, Emily Barrett and Chester Yung
(Bloomberg) A string of poorly-received bond auctions in the past week is driving home a message the Treasuries-led global rout is leaving investors scarred and governments staring at higher borrowing costs.
U.S. yields resumed their rise Wednesday after a brief lull that followed a disastrous sale of seven-year Treasury notes last week. Sovereign bond offerings from Indonesia to Japan and Germany have drawn tepid demand and at least one sale was scrapped. The push for higher rates comes as central bankers attempt to ease investors’ discomfort over the pace of the recent rise.
Brazil Economic Team Enlists Investor Help as Rate Bets Soar
Bloomberg 3/2/2021 Aline Oyamada, Rachel Gamarski and Martha Beck
(Bloomberg) Brazil’s economic team is enlisting investors to help it defend a rule that caps public spending, as growing fiscal concerns sink local markets and push traders to bet on the most aggressive interest rate hike in a decade.
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Members of Economy Minister Paulo Guedes’s crew and the Treasury have asked fund managers and economists to publicly defend the so-called spending ceiling that limits the growth in public expenditures to the inflation rate, according to three people with knowledge of the matter who asked not to be named as the information isn’t public.