Filed under: Before the bell, International markets, Market matters, Economic dataOften is the case that after a big selloff, stocks stage a rally. Alas, this is not the case today and I feel like I'm repeating myself every morning, but U.S. stock futures were lower Thursday, indicating stocks could further extend Wednesday's selloff. Yesterday, the Dow Jones Industrial Average closed below 8,0...
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As debt securities in the “AAA” categories began trading at yields spreads of 1000-plus basis points over comparative treasury maturities this week, bond market veterans were reminded of a popular slogan Senator John McCain used on the stump: if you live long enough, you will see everything. Across the Atlantic, debt pricing specialist watched in horror as default probabilities with...
Market recap. U.S. stock and bond markets dropped to their lowest levels since the economic crisis began, on new concerns about rising defaults and the financial system's health. The stock market fell to a 5.5 year low, led by banks and financial institutions. Markets are now down 43.5% from an all-time high reached just over a year ago, and nearly all the gains from the last bull market (from...
High-yielding currencies like the Australian dollar and the British pound come under pressure as investors fret about declining stock markets and an unraveling world economy.
Topic: NEWS Tags:
Although currencies ended up adopting their usual path of following the swings in risk appetite, it's worth explaining Wednesday's earlier spikes in EUR/USD and GBP/USD. The moves were a result of broad dollar selling (also seen in a $25 rally jump in gold) on reports that Iran was pushing ahead with its nuclear program. The International Atomic Energy Agency stated an increasing build up of en...
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The yen advanced on Thursday as heightened concerns over the global economy sparked a fresh wave of deleveraging across asset markets.
Swiss National Bank Cuts 3-Month LIBOR Rate By 100bp To Meet 2% Target for Inflation
Thu, Nov 20, 6:28 AM ET
The Swiss National Bank surprised the markets by unexpectedly lowering the 3-month LIBOR target rate for the third time over the last two months as they...
Topic: FOREX Tags:
Every commodity except for gold was punished on Thursday, as broad-based sell-offs in equity markets and the reality of a protracted global recession dragged on sentiment and nudged investors towards traditional safe-havens
The recent thaw in short-term lending markets made it look, at least temporarily, as if the worst of the credit crisis had passed. But, says Breakingviews, the rapid collapse in the market for commercial-mortgage-backed securities, or C.M.B.S., shows that the American economic downturn is now becoming a big threat, and feeding back to financial assets, [...]