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The Breakfast Briefing: U.S. Futures, Europe Stocks Slip; Treasuries Climb
FYI: Futures pointed to U.S. shares extending a decline at the New York open while European stocks retreated as investors digested another surprisingly dovish Federal Reserve policy meeting. The dollar steadied after slumping on Wednesday.
Contracts for the S&P 500, Dow Jones Industrial and Nasdaq indexes edged lower as the Stoxx Europe 600 Index extended losses from a day earlier. Asian equities bucked the trend, with the region’s benchmark gauge advancing even as Hong Kong shares fell and Japan’s markets were closed for a holiday. The yield on 10-year Treasuries declined to 2.51 percent. The yuan rose after China’s central bank set the currency’s daily fixing at the highest since July. The New Zealand and Australian dollars gained on solid economic data. Dovish Fed drags Bloomberg dollar index below its upward trendline.
Elsewhere, the pound slipped as pressure built on Theresa May to gather a majority for her Brexit deal. The U.K. prime minister asked the European Union for a three-month extension to the March 29 deadline in a move that increases the risks of a no-deal departure. In Hong Kong, the de facto central bank again bought the local dollar after the city’s exchange rate fell to the weak end of its trading band against the greenback. Regards, Ted WSJ: https://www.wsj.com/articles/global-stocks-pause-as-markets-parse-fed-outlook-11553161220
