- American equities futures made a slight advance on Wednesday, but the market was cautious due to the deteriorating economic picture and the anticipation of data that would reveal inflation at a new four-decade high.
- Following yet another erratic session on Tuesday that saw both benchmarks closing firmly in the negative territory, the S&P 500 and NASDAQ 100 futures registered slight gains. Treasury prices remained stable, and a crucial area of the yield curve is still inverted, which could be an indication that a recession is imminent. At one time on Tuesday, the 10-year yield was 12.4 basis points lower than the 2-year rate, a level not seen since 2007.
- The Stoxx Europe 600 index fell most sharply in shares of insurance, healthcare, and travel companies. After Bank of England Governor Andrew Bailey stated that policymakers are willing to raise borrowing costs in larger increments to contain inflation, the UK benchmark underperformed. The Asia-pacific share gauge of MSCI inc. increased by less than 0.5%, helped by a recovery in Chinese Technology Shares. Many European bonds decreased.
- After falling, the price of WTI crude oil stabilized at about $96 per barrel. Since March 2020, the dollar has been around its peak levels. The euro and the dollar were still close to parity. BTC traded below $20,000 today.
- PBOC's Zou: China's economic recovery is not solid yet.
- IEA trims demand outlook for 2022 by 200,000 bpd, seeing a rise of 1.7 mln bpd to 99.2 mln bpd.
- IEA: Demand in 2023 to rise by 2.1 mln bpd to 101.3 mln bpd, led by strong growth in non-OECD countries.
