August 18, 2022
United States:
US Futures Muted as Fed Policy Concerns Linger: Markets Wrap
U.S. equity-index futures traded slightly higher even as sentiment remained fragile after the Federal Reserve signaled inflation-busting rate hikes will continue despite a weakening economy.
September contracts on the S&P 500 and Nasdaq 100 rose at least 0.1% after the underlying benchmarks posted losses on Wednesday. Treasury yields slipped as investors parsed some dovish elements in the minutes of the Fed’s latest meeting. The dollar fluctuated between gains and losses. Cisco Systems rose in New York premarket trading after issuing an upbeat sales forecast.
Europe:
Banks Are at the Heart of a Revival in European Bond Sales
Banks and financial institutions are leading the revival of bond offerings in Europe’s debt market.
Borrowers including Credit Agricole SA, Banco Santander SA and Lloyds Banking Group Plc account for over 80% of all the bonds being offered this week, according to data compiled by Bloomberg. The bank-led deluge is lifting sales out of their worst summer slump since at least 2014.
Asia:
China Is Ramping Up Swiss Gold Imports, Signaling Better Demand
China’s gold imports from the major refining hub of Switzerland jumped to the highest in more than five years, signaling demand improved as the Asian nation relaxed strict Covid measures.
One of the world’s top bullion buyers, China shipped in more than 80 tons from Switzerland in July, according to Swiss Federal Customs Administration. That’s more than double the previous month and eight times more than in May.
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