Bonds Advance, Stocks Mixed Before Holiday Weekend: Markets Wrap




 

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Treasuries led a rebound in global bonds on Thursday, while U.S. equity futures edged lower and European stocks fluctuated as a cautious mood gripped markets before the long holiday weekend.

The yield on 10-year Treasuries slipped the most in a week, while the euro dropped and European bonds gained after German and euro-area factory numbers disappointed. The Stoxx Europe 600 Index swung into the green, however, as technology and carmaker shares led a recovery. Contracts for the main three U.S. equity benchmarks all pointed to a weak open. Stock declines were heavier in Asia, particularly in South Korea, as issues with a new Samsung Electronics Co. phone weighed on the biggest stock in the main index.

Equity investors appear to be in a cautious mood as they head into the Easter weekend, with many major markets -- including those in the U.S. -- set to close on Friday, and exchanges across Europe also shuttered on Monday. Solid economic data out of China, optimistic signals from the trade talks and a decent start to the earnings season have not been enough to spur risk appetite, particularly after policy concerns sank American healthcare stocks on Wednesday.

Elsewhere, West Texas oil futures nudged higher while emerging-market stocks headed for their biggest decline in a week.

Here are some notable events coming up:

Earnings season rolls on this week, with reports due from American Express, Honeywell, Alcoa and Taiwan Semiconductor among others.A swathe of financial markets will close across the Western world for the Good Friday holiday, including in the U.S., U.K. and Germany.

These are the main moves in markets:

Stocks

The Stoxx Europe 600 Index rose 0.2 percent as of 7:35 a.m. New York time.Futures on the S&P 500 Index fell less than 0.05 percent.The MSCI Asia Pacific Index fell 0.5 percent.The MSCI Emerging Market Index fell 0.5 percent, the biggest fall in a week.Kospi index sank 1.4 percent on the largest tumble in more than three weeks.

Currencies

The Bloomberg Dollar Spot Index jumped 0.3 percent on the biggest increase in three weeks.The euro sank 0.4 percent on the largest decrease in more than three weeks.The MSCI Emerging Markets Currency Index sank 0.2 percent on the biggest dip in more than three weeks.The South Korean Won fell 0.2 percent.

Bonds

The yield on two-year Treasuries dipped two basis points to 2.38 percent on the biggest decrease in more than a week.The yield on 10-year Treasuries declined three basis points to 2.56 percent.Germany's 10-year yield sank three basis points to 0.05 percent and the biggest tumble in more than three weeks.France's 10-year yield decreased four basis points to 0.381 percent.

Commodities

Gold rose 0.2 percent to $1,275.92 an ounce.Brent crude rose 0.2 percent to $71.73 a barrel.Platinum dipped 0.2 percent to $889.40 an ounce.

--With assistance from Adam Haigh and Cormac Mullen.

To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net

To contact the editor responsible for this story: Samuel Potter at spotter33@bloomberg.net

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

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