Asian share markets slipped on Tuesday amid concerns the rapid spread of coronavirus infections in China would further hurt economic growth and hinder global supply chains, even if opening up would be positive in the long run.
Surveys out over the weekend showed China's factory activity had shrunk at the sharpest pace in nearly three years as COVID-19 infections swept through production lines."China is entering the most dangerous weeks of the pandemic," warned analysts at Capital Economics.
The cautious mood spread to Wall Street, with S&P 500 futures off 0.4% and Nasdaq futures 0.6% lower. EUROSTOXX 50 futures fell 1.4% and FTSE futures 0.8%. They expect interest rates to top out at 5% in the United States, 2.25% in the EU and 4.5% in Britain and to stay there for the entire year. Markets, on the other hand, are pricing in rate cuts for late 2023, with Fed fund futures implying a range of 4.25 to 4.5% by December.
The BOJ is now considering raising its inflation forecasts in January to show price growth close to its 2% target in fiscal 2023 and 2024, according to the Nikkei.Such a move at its next policy meeting on Jan. 17-18 would only add to speculation of an end to ultra-loose policy, which has essentially acted as a floor for bond yields globally.
The trend continued on Tuesday as the dollar slid 0.5% to a six-month low of 130.04 yen , having breached major chart support at 130.40. The euro fell to its lowest in three months at 138.32 yen .
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
U.S. and China spar over military aircraft intercept over South China SeaThe U.S. and its allies have painted a picture of a Chinese military that is wildly audacious in asserting Beijing's territorial claims.
Les mer »
District 22-6A girls race hits its stride starting Tuesday night\u00a0
Les mer »
More Clouds, Warm Monday; Severe Storm Risk Tuesday - Alabama NewsA dense fog advisory begins at 9PM Sunday and continues through 10AM Monday for Wilcox, Butler, Crenshaw, and Covington counties. Monday becomes mainly cloudy with some showers or even storms possible, especially during the afternoon or evening.
Les mer »
Propaganda Inc. Set To Be Released This TuesdayIndie developer and publisher Error 300, the creators of Mosaic Chronicles and Next Level Agency, are releasing Propaganda Inc. on Tuesday. indiedev indiegame
Les mer »
First U.S. execution of openly transgender woman set for Tuesday in MissouriAmber McLaughlin is asking Missouri's governor for mercy, citing mental health issues.
Les mer »