S&P 500 Futures, yields grind higher as policymakers tame fears of banking crisis – by anilpanchal7 SP500 Futures YieldCurve Banks RiskAversion
the risk-on mood could be a lack of hawkish comments from the Federal Reserve officials and mixed US data. It should be noted, however, that the latest geopolitical fears emanating from Russia, China and North Korea seem to challenge the optimists.
While portraying the mood, S&P 500 Futures print mild gains around 4,010 during the four-day uptrend whereas the US Treasury bond yields remain sidelined after snapping a three-day downtrend on Monday. It’s worth noting that the US 10-year and two-year Treasury yields grind higher around 3.53% and 3.93% by the press time.and European policymakers’ stretching of emergency credit lines to the troubled banks, as well as announcements of deposit insurance schemes.
US Treasury Department recently said that the US will keep using tools to prevent banking contagion as needed. Previously, Federal Reserve Governor Philip Jefferson said, “Inflation ‘has started to come down’ with some of that due to tighter monetary policy and some due to other factors such as improving global supply chains.
Alternatively, the geopolitical fears surrounding China and Russia challenge the market’s upbeat sentiment. That said, talks about China’s failure to keep the pace of growth promised, as well as Russia’s alleged readiness to use nuclear weapons against Ukraine. On the same line are the latest comments from North Korean Leader Kim Jong Un who recently stated, per KCNA news, “ should be fully ready to use nuclear weapons at any time.
Moving forward, the US Conference Board’s Consumer Confidence for March, as well as the second-tier housing and activity data, can direct intraday moves. However, major attention will be given to Wednesday’s Monthly Inflation for Australia and Friday’s Fed’s preferred inflation gauge, namely the Core Personal Consumption Expenditure Price Index.
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