November 8, 2024
United States:
Treasuries Set for Best Week in Two Months After Trump Whiplash
Treasuries are poised for their best week since early September after a volatile five days of trading dominated by Donald Trump’s victory in the presidential election.
US bonds rallied again on Friday as investors trimmed the huge run-up in rates that greeted Trump’s win. Yields on 30-year bonds, which bore the brunt of Wednesday’s losses amid fear the incoming administration’s policies will boost inflation, retreated to 4.5% — taking a drop over the past five days to 7 basis points.
Europe:
Lagarde Urges EU Leaders to Accelerate Capital Markets Union
The European Union should push ahead urgently to lower national barriers and build a capital markets union to help the bloc foster innovation with a more suitable financing ecosystem, European Central Bank President Christine Lagarde said.
Lagarde told EU leaders gathering Friday in Budapest that significant portions of savings aren’t channeled toward innovative firms, leading to a talent drain and funding inefficiencies, according to officials briefed on the discussions.
Asia:
PBOC Signals Greater Resolve on Dovish Policy, Ample Liquidity
China’s central bank strengthened its commitment to supportive monetary policy and pledged to use multiple tools to ensure ample liquidity in the market, following a major fiscal package designed to reduce local debt risks.
The People’s Bank of China will “resolutely insist on an accommodative monetary policy stance,” according to its quarterly monetary policy report published Friday.
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