- US equity futures advanced alongside government bonds, indicating a possible recovery at the end of a volatile week in markets.
- The S&P 500 and Nasdaq 100 futures both rose as the 10-year treasury yield fell 10 basis points, providing relief to the tech-heavy and duration-laden benchmark. Government bonds rallied across Europe, while the dollar strengthened after reversing a loss.
- Another bruising session on Wall Street on Thursday sent the S&P 500 down 2% to its lowest level in nearly two years, and the Nasdaq 100 down nearly 4%. For the first time since 2008-2009, the S&P 500 index is set to lose three consecutive quarters, as is the Nasdaq 100 stock index.
- As it emerged, the pound continued to fall. The UK Treasury has not requested that its fiscal watchdog accelerate its economic forecast, implying that the government has no plans to reverse the economic strategy that is roiling markets.
