Market Update

US Fed Chair Jerome Powell, in testimony prepared for delivery Tuesday before the Senate Banking Committee, and released Monday by the Fed, said that he continues to expect high inflation to recede over the next year as supply and demand come into better balance, but warned that prices could continue …

The federal statistics agency Destatis released preliminary data, on Monday, showing German consumer prices had hit a 29-year high in November, as soaring energy costs and supply chain bottlenecks weigh on Europe’s top economy.The year-on-year inflation rate has accelerated for the fifth month in a row now, with a number …

US Fed Chair Jerome Powell, in testimony prepared for delivery Tuesday before the Senate Banking Committee, and released Monday by the Fed, said that he continues to expect high inflation to recede over the next year as supply and demand come into better balance, but warned that prices could continue …

OPEC+ has postponed two meetings scheduled for the current week in order to avail more time to evaluate the implications of the latest coronavirus update about the emergence of a highly mutated variant.The group had moved the meeting of its joint technical committee to Wednesday from Monday, and the meeting …

Bargain buying in technology stocks has driven Wall Street higher on Monday following a collapse related to Omicron strain, while the Dow Jones lagged its peers as major banks fell and investors awaited more information on the new coronavirus variant.The S&P technology subindex jumped 2.1%, indicating that investors were likely …

European shares surged on Monday after their worst selloff in more than a year as investors digested whether the Omicron variant would deter economic recoveries and monetary tightening plans by central banks.The pan-European STOXX 600 closed up 0.7%, logging its best day in a month and recovering some of Friday’s …

Fears retreated on Monday after panic had dominated financial markets for three days when stocks markets collapsed following the news on a new virus variant known as Omicron. However, the market’s reaction may have been worsened by thin market conditions due to the Thanksgiving holiday in the US.Up till Monday, …

Treasury yields climbed on Monday, as investors are eyeing the latest developments with the Omicron variant.The yield on the benchmark 10-calendar year Treasury rose by 4.6 foundation details to 1.531%. The yield on the 30-12 months Treasury bond climbed by 4.8 foundation details to 1.878%. Yields shift inversely to price …

EMB lost $709.5 million last week, worst outflow in two months. Most withdrawals came a day after Powell’s Fed reappointment.The double whammy of a new coronavirus variant and prospects of tighter policy in the U.S. had investors rethinking their appetite for risky emerging-market bonds last week.The $19 billion iShares J.P. …

GBP/USD has dipped under 1.3300 as sterling traders worry about impact of UK Omicron outbreak. The GBP/USD pair slipped under 1.3300 in recent trade and is eyeing year-to-date lows. The pair has been eying the impact of concerns related to Omicron outbreak in the UK.The sterling has been under pressure …