October 21, 2022
United States:
Futures Fluctuate Before $2 Trillion Options Event: Markets Wrap
Stock futures fluctuated as bonds trimmed their selloff, with traders bracing for volatility ahead of the expiration of $2 trillion in options.
S&P 500 contracts erased losses. Treasury 10-year yields traded below 4.3% and the dollar posted a mild advance.
Europe:
Whoever Wins Loses: Truss’s Successor to Inherit Grim UK Economy
No matter who replaces Liz Truss, the next British prime minister will inherit an economy damned for the immediate future by rising borrowing costs, crippling energy bills, high taxes and no strategy about how to revive growth.
Asia:
Yen Watchers Brace for Japan to Act After 150 Level Breaks
The yen’s slump past the symbolic mark of 150 per dollar is keeping traders guessing when Japanese authorities will intervene to halt a further decline.
The Japanese currency has weakened by more than 5 yen per dollar since Japan stepped into the market in September, despite a barrage of warnings to dissuade traders from testing its resolve and speculation authorities were quietly intervening on a small scale. The yen slipped another 0.8% on Friday to 151.38, a 32-year low.
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