- At the end of a week in which markets were thrown for a loop by shifting expectations for monetary tightening by the federal reserve and concerns over global economic growth, us equity-index futures varied and the dollar's ascent stopped.
- Wall Street closed a little down as investors scaled back their expectations for how quickly the Fed will raise interest rates to battle inflation. The S&P 500 and Nasdaq 100 contracts indicated a sluggish opening for US markets. After yesterday's poor results from JPMorgan and Morgan Stanley, investors are looking forward to earnings from Citigroup and Wells Fargo on Friday.
- Treasury prices increased, and the inversion of the yield curve between the two-year and 10-year maturities was maintained. From a record high. For the first time since April, WTI crude oil is anticipated to conclude the week below $100 a barrel. Concern over the outlook for commodity demand increased in response to GDP figures from China, sending copper to its lowest point in 20 months.
- Investors are analyzing the expected impact on the economy and how hawkish the Fed needs to be to reduce inflation. After the most recent comments suggested a 75 basis point increase, wagers on a July rate increase of one percentage point have been reduced. After significant losses for stocks and bonds in 2022, the rate of monetary tightening together with dwindling liquidity still poses a potential to ignite additional market turbulence.
- ECB's Rehn: ECB likely to hike by 25 bps in July, 50 bps in September.
- China's Huaiyuan county announces lockdown for the pandemic - TV.
- EU commission set to adopt on Friday new package of sanctions against Russia targeting gold, chemicals, machinery - Sources.
- Goldman Sachs cuts China 2022 growth forecast to 3.3% from 4%.
