November 4, 2024
United States:
‘Trump Trade’ Doubts Drag on Dollar, Boosting US Treasuries
Treasury yields fell sharply, and the dollar weakened as investors pared bets on Republican Donald Trump prevailing in Tuesday’s US election.
The yield on 10-year Treasuries dropped as much as 11 basis points to 4.27% after a new poll suggested traders were underestimating the prospect of a win for Democrat Kamala Harris.
United Kingdom:
Investors Await BOE Verdict on Whether Budget Hinders Rate Cuts
The Bank of England may extinguish hopes of a shift to quicker interest-rate cuts this week after the budget reignited inflation concerns and triggered a selloff in UK bonds that evoked memories of the 2022 market meltdown.
Economists and traders expect the Monetary Policy Committee to push ahead with only the second rate cut this year on Thursday, lowering the benchmark rate by a quarter point to 4.75%.
Asia:
China’s Next Stimulus Package Is Unlikely to Put Market Fully at Ease
Chinese lawmakers are gathering in the shadow of the US election to sign off on a fiscal package that’s set to run into the trillions of yuan yet is unlikely to put the market fully at ease.
The stakes have grown for this week’s conclave of the Standing Committee of the National People’s Congress, the executive body of the nation’s top legislature, as it’s expected to round out China’s largest effort to lift growth since the pandemic.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
