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STOCK MARKET SNAPSHOT FOR 01/7/2022

NASDAQ-Adv: 1,868 Dec: 2,846 NYSE-Adv: 1,564 Dec: 2,730 (Source: Nasdaq)

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Emerging markets face bleak outlook after stormy start to the year

It’s been a torrid first half for emerging market assets and with the Federal Reserve kicking off its tightening cycle amid soaring inflation shock waves might be on the horizon. Adding to that are supply chain problems out of China, a war in Europe’s bread basket, stalling global growth and fears that the world’s largest economy could tip into recession – all casting a pall over riskier assets. Data from the Institute of International Finance (IIF) showed that small inflows into emerging market debt for the year until end-May were ...

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Buying the bear? Equity demand endured market pain

It’s a hard habit to break. You’d be forgiven for thinking the worst two-quarter period for stock markets since 2009 had investors running for the hills – but you’d be wrong. One of the most startling statistics from the torrid first half of 2022 is that investors bought a net $195 billion of stocks even as major U.S. and global equity indices lost almost a fifth of their value in the face of rising inflation, interest rates and recession fears. According mutual fund data tracked by Bank of America, the ...

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FX Daily: 50bp from the Riksbank unlikely to be a game changer for SEK

USD: Market prices a peak in dollar rates around year-end The dollar remains close to the highs of the year as recessionary fears fail to dent the central assumption that inflation is a problem and that the Federal Reserve is laser-focused on taking rates higher to address it. That seemed to be the central message coming from the European Central Bank’s Sintra panel in Portugal, where central bank governors effectively concluded that the low inflation regime was a thing of the past. The current narrative, therefore, means that the Fed ...

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European shares face worst quarter since pandemic-led carnage in early 2020

European shares fell on Thursday and were set for their worst quarter since the pandemic-led carnage in early 2020, as investors became increasingly wary of a global recession in the wake of hawkish central bank actions to tame rising inflation. The continent-wide STOXX 600 index .STOXX was down 1.4% by 0709 GMT, with France’s CAC 40 index .FCHI down 2.0% as preliminary official figures showed inflation climbed further from the previous month to a record 6.5%. The STOXX 600 fell for a second straight day after global central bank chiefs ...

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Riksbanken rate hike lifts Swedish crown

The Swedish crown rose on Thursday against the euro after Sweden’s central bank hiked its benchmark interest rate by 50 basis points as expected. In the meantime, the euro flattened against most peers, remaining close to a fresh 2015-low versus the Swiss franc and near a two-week low against the U.S. dollar, amid safe-haven demand on renewed worries about higher rates and a global recession. The Swedish crown was up 0.1% against the euro at 10.6810 at 0830 GMT after briefly jumping 0.4% against the euro to 10.6410 following Sweden’s ...

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How a massive options trade by a JP Morgan fund can move markets

A nearly $17 billion JP Morgan fund is expected to reset its options positions on Thursday, potentially adding to equity volatility at the end of a dismal first half for stocks. Analysts say the JPMorgan Hedged Equity Fund’s reset roiled markets in the closing hours of the last quarter and has the potential to move markets again this time around. Here is what you need to know: WHAT IS THE JP MORGAN HEDGED EQUITY FUND? The JPMorgan Hedged Equity Fund holds a basket of S&P 500 .SPX stocks along with ...

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STOCK MARKET SNAPSHOT FOR 30/6/2022

NASDAQ-Adv: 1,625 Dec: 2,912 NYSE-Adv: 1,407 Dec: 2,756 (Source: Nasdaq)

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Private equity’s swoop on listed European firms runs into rising execution risks

European listed companies have not been this cheap for more than a decade, yet for private equity firms looking to put their cash piles to work, costlier financing and stronger resistance from businesses are complicating dealmaking. Sharp falls in the value of the euro and sterling coupled with the deepest trading discounts of European stocks versus global peers seen since March 2009, have fuelled a surge in take-private interest from cash-rich buyout firms. Private equity-led bids for listed companies in Europe hit a record $73 billion in the first six ...

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European equities per-share profit could drop over 6% – HSBC

European equities could see a drop between 6.4% and 8.5% in earnings per share this year compared to consensus estimates of a rise of more than 11%, HSBC said on Tuesday, as investors worry over the chances of tighter monetary policy and slowing growth. As economies battle with record-high inflation, investors fear that major central banks could further raise interest rates to tackle it, potentially setting off a recession. The pan-European STOXX 600 is down 14.16% so far this year, while the FTSE 100 index has fallen 0.4%. HSBC upgraded ...

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FX Daily: High volatility regime expected to stay in place

USD: Temporary calm FX markets have entered a period of temporary calm and ranges have been quite subdued this week. Half year-end may have had some bearing on the matter and yet it would not be a surprise to see some moves developing around key fixings today – especially the WMR fix at 17CET. One might have thought these conditions would lead to lower levels of implied or expected volatility – perhaps on the notion of FX markets finding new equilibrium levels. But no, EUR/USD one-month volatility is still bid ...

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World stocks in red as consumers signal recession ahead

Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession. A succession of weak data releases in Europe and the United States has not prevented central bankers from doubling down on hawkish rhetoric. More is likely later on Wednesday when the heads of the European Central Bank, U.S. Federal Reserve and Bank of England speak at a central banking forum. Data on Tuesday showed U.S. consumer confidence dropped to ...

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Dollar buoyed by safe-haven status as investors sweat over recession risks

The dollar edged higher on Wednesday, keeping its index against major peers nestled below a two-decade high struck two weeks ago, with investors seeking safety in U.S. assets as stocks declined globally due to the mounting risk of a recession. The dollar index =USD, which measures the greenback against six counterparts, ticked up 0.067% to 104.54, spurred mainly by weakness in the euro overnight. The two-decade high of 105.79 was struck on June 15. The greenback was firm despite U.S. 10-year Treasury yields US10YT=RR retreating by nearly one percentage point ...

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STOCK MARKET SNAPSHOT FOR 29/6/2022

NASDAQ-Adv: 1,235 Dec: 3,371 NYSE-Adv: 1,281 Dec: 2,924 (Source: Nasdaq)

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G7 to agree tough line on China market abuse – U.S. official

The Group of Seven leading industrialised democracies have agreed to develop a coordinated approach to remedying China’s “non-market” international trade practices, a senior U.S. official said on the last day of their summit in Germany. “You’ll see leaders release a collective statement, which is unprecedented in the context of the G7, acknowledging the harms caused by China’s non-transparent, market-distorting industrial directives,” the official said on Tuesday. Among their commitments was one to accelerate efforts to remove forced labour, including state-backed forced labour, from global supply chains, the official added. Source: ...

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