February 3, 2023
United States:
US Futures Drop; Yields Climb After Jobs Data: Markets Wrap
US equity futures declined after the January jobs report pointed to a hot labor market, highlighting that the Federal Reserve has more room to keep raising rates.
Futures on the S&P 500 and the Nasdaq 100 declined after data showed the US added 517,000 jobs in January, exceeding estimates of 188,000. The unemployment rate fell to a 53-year low, further evidence of how robust the jobs market is. Treasury yields spiked, with the 10-year rate around 3.48%. A dollar index rose.
Europe:
ECB Plan for Next Big Hike Makes Lagarde Last Hawk Standing
Late to the global interest-rate hiking party, the European Central Bank is trying to convince everyone that it will also be one of the last to leave.
With counterparts from the US to the UK sending out signals of waning aggression after drastic monetary tightening, euro-zone officials insist their own onslaught against inflation isn’t about to let up.
Asia:
China Calls on IMF to Support Sri Lanka Urgently With Bailout
China called on the International Monetary Fund to provide urgent assistance to Sri Lanka, saying that its state-owned bank had offered relief and urging other creditors to act swiftly in supporting the troubled island nation.
“China also calls on the IMF to fully consider the urgency facing Sri Lanka and offer debt support as soon as possible so as to better relieve the liquidity strain facing Sri Lanka,” Foreign Ministry spokeswoman Mao Ning told reporters in Beijing on Friday. “China will continue to support relevant financial institutions to consult with Sri Lanka over debt treatment,” she said.
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