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Author: Michael Hewson Clear filter
27.10.2022 06:50 © CMC Markets (UK) | 2022
ECB set to hike by another 75bps, Meta misses
Michael Hewson
CMC Markets (UK)
European markets got a late pick me up yesterday, closing at 5-week highs, after the Bank of Canada surprised the market by hiking rates by a less than expected 50bps, with Bank of Canada governor Tiff Macklem going on to admit that the central bank was placing a lot more emphasis on the effects of...
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26.10.2022 07:30 © CMC Markets (UK) | 2022
Microsoft and Alphabet see shares fall after hours Bank of Canada in focus
Michael Hewson
CMC Markets (UK)
The quarterly earnings reports are coming thick and fast, and they’ve been very much a mixed bag.Yesterday the FTSE100 underperformed due to HSBC reporting a much bigger than expected revision on non-performing loans of $1.1bn, while profits were weaker than expected. Today the focus shifts to Bar...
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25.10.2022 07:45 © CMC Markets (UK) | 2022
Falling yields take the edge off UK borrowing costs
Michael Hewson
CMC Markets (UK)
The rebound seen over the course of the last couple of days appears to be being driven by a sharp fall in bond yields, at least in European markets with the sharp drop in UK gilt yields marking the unwind in premium that we saw in the aftermath of the market turmoil post the UK mini budget.Markets a...
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24.10.2022 08:28 © CMC Markets (UK) | 2022
All eyes on UK gilt yields as Johnson steps away, BoJ steps in again
Michael Hewson
CMC Markets (UK)
Even though European markets closed broadly lower on Friday, we still managed to see the third positive weekly gain in a row in the face of rising yields on both sides of the Atlantic.US markets also saw a strong end to the week, recording their best weekly gains since June despite yields which have...
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21.10.2022 07:45 © CMC Markets (UK) | 2022
Sterling in focus, ahead of retail sales, as leadership nominations open
Michael Hewson
CMC Markets (UK)
While European markets managed to eke out a gain yesterday, the slow rise in bond yields continued to act as a drag on US markets which closed lower for the second day in succession, as the US 10-year yield hit another new multiyear high above 4.2%. This continued rise in yields has remained a drag...
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20.10.2022 07:10 © CMC Markets (UK) | 2022
European markets look set to open lower on increased tightening fears
Michael Hewson
CMC Markets (UK)
European markets struggled for gains yesterday, succumbing to the downside, with progress constrained by a sharp rise in US yields, as well as the US dollar, after Minneapolis Fed President Neel Kashkari said that the Federal Reserve would be in no position to pause on rate rises if inflation was st...
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19.10.2022 09:10 © CMC Markets (UK) | 2022
Banks on the slide in early European trade
Michael Hewson
CMC Markets (UK)
It’s been an initially positive start for European markets in early trade, however those gains seem to be slowly slipping away with banks on the back foot on reports that the new Chancellor of the Exchequer is weighing a further windfall tax on banks and energy to help a £40bn hole on the public...
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19.10.2022 07:30 © CMC Markets (UK) | 2022
UK CPI expected to move back above 10%
Michael Hewson
CMC Markets (UK)
European markets finished the day higher for the second day in a row yesterday, although slightly worryingly we closed well off the highs of the day.US markets also got off to a flier led by the Nasdaq, however the early gains quickly unwound on reports that Apple was cutting production of its iPhon...
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18.10.2022 08:10 © CMC Markets (UK) | 2022
Europe set for positive open as German ZEW expected to slip to a record low
Michael Hewson
CMC Markets (UK)
European markets got off to a strong start yesterday, helped in no small part by a sharp decline in yields, after new UK Chancellor Jeremy Hunt took the proverbial salami slicer to the September mini budget of the previous Chancellor, Kwasi Kwarteng.The new Chancellor announced measures that would r...
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17.10.2022 07:45 © CMC Markets (UK) | 2022
UK gilt markets in focus as Hunt takes the reins
Michael Hewson
CMC Markets (UK)
While European markets finished last week on the up, US markets did not, finishing the week lower, with the S&P500 within touching distance of a key support level at 3,500. This weak finish looks set to translate into a slightly lower European open against a backdrop of a negative star...
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