• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Treasury Yields Dive, Equity Futures Rally on SVB: Markets Wrap
Finance

Treasury Yields Dive, Equity Futures Rally on SVB: Markets Wrap

March 13, 2023No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Treasury Yields Dive, Equity Futures Rally on SVB: Markets Wrap
Share
Facebook Twitter LinkedIn Pinterest Email

(Bloomberg) — US equity futures rallied, the dollar tumbled and Treasury yields extended declines as investors dialed back rate-hike bets following the collapse of Silicon Valley Bank.

Most Read from Bloomberg

Contracts for the Nasdaq 100 surged around 2% and two-year yields slumped as much as 25 basis points Monday in Asia. Efforts by regulators to backstop bank deposits buoyed sentiment while the rapid onset of problems in the American financial sector supported bets for a less hawkish monetary policy.

Treasury Secretary Janet Yellen said the her office would protect “all depositors” at the bank, whose demise Friday marked the biggest such event since 2008. The government actions will also include a new lending program that Federal Reserve officials said would be big enough to protect uninsured deposits in the wider US banking system.

Economists at Goldman Sachs Group Inc. no longer expect an increase from the Fed at its March meeting given stresses in the banking system. Others, like equity strategist Frank Benzimra at Societe Generale SA, said the probability of a 50-basis-point hike this month has diminished greatly.

A gauge of dollar strength fell as much as 1%, with the currencies of Australia, New Zealand and Norway among the biggest advancers of the greenback’s major peers. There were also notable gains in the yen and the offshore yuan.

Japan’s benchmark 10-year yield slid further below the ceiling of the central bank’s target trading band. Australian and New Zealand government bond yields dropped as traders globally reassessed the path of interest rate hikes and the economic cost the tightening cycle has taken already. The problems at SVB Financial Group’s bank were caused in large part by the fallout from higher US interest rates.

See also  S&P 500 Fell 7% After the Last U.S. Credit Downgrade. What Happens After Fitch.

A gauge of Asian stocks eked out a small rise, held back by losses in Japanese shares, with financials being the biggest drag on the benchmark Topix gauge. The index has been under pressure also thanks to strength in the yen.

Shares in Hong Kong and mainland China rose on positive signs for policy continuity, with China’s central bank governor Governor Yi Gang and the finance and commerce ministers being kept in their posts. President Xi Jinping pledged to pursue reasonable growth in the economy and self reliance in technology during his closing speech at the National People’s Congress.

Monday’s moves in markets come after risk assets got pummeled last week, with the US stock benchmark suffering its worst week since September. Wall Street’s so-called “fear gauge” spiked, with the Cboe Volatility Index hitting the highest this year.

“Tightening monetary cycles often end abruptly when ‘something breaks’ and a financial crisis is triggered,” Ed Yardeni, the founder of Yardeni Research, said in a note. “If the Silicon Valley Bank run is that something, it could mean tightening ends sooner and bond yields have peaked. We can’t say for sure that’s the case but can say the debacle should keep the tech sector mired in its rolling recession for longer.”

Anxiety is also running high ahead of this week’s consumer price index report, especially after Fed Chair Jerome Powell recently emphasized that a move to a faster pace of tightening would be based on the “totality of the data.”

Yet for now the reassurances from US regulators over SVB are having some of their desired impact.

See also  Government vows aid for tech firms but Israel stocks slide on SVB collapse

“This will bring confidence back to the markets. But from the Fed’s point of view, there are additional dangers that need to be reviewed, which will take some time,” Carol Pepper of Pepper International said on Bloomberg Television. “So I’m hoping that this will help them to have a good reason to pause because frankly creating financial stability is the number one job at the Fed.”

Elsewhere in markets, oil fluctuated while gold rose on its allure as a haven. Bitcoin climbed, reflecting the relief among investors.

Key events this week:

  • US inflation, Tuesday

  • China retail sales, industrial production, medium-term lending, surveyed jobless rate, Wednesday

  • Eurozone industrial production, Wednesday

  • US business inventories, retail sales, PPI, empire manufacturing, Wednesday

  • Eurozone rate decision, Thursday

  • US housing starts, initial jobless claims, Thursday

  • Janet Yellen appears before the Senate Finance Committee, Thursday

  • US University of Michigan consumer sentiment, industrial production, Conference Board leading index, Friday

Some of the main moves in markets:

Stocks

  • S&P 500 futures rose 1.7% as of 6:35 a.m. London time. The S&P 500 fell 1.5% on Friday

  • Nasdaq 100 futures rose 1.9%. The Nasdaq 100 fell 1.4%

  • Euro Stoxx 50 futures rose 0.4%

  • Japan’s Topix index fell 1.5%

  • Hong Kong’s Hang Seng Index rose 1.8%

  • China’s Shanghai Composite Index rose 1%

  • Australia’s S&P/ASX 200 Index fell 0.5%

Currencies

  • The Bloomberg Dollar Spot Index fell 0.7%

  • The euro rose 0.7% to $1.0718

  • The Japanese yen rose 0.5% to 134.38 per dollar

  • The offshore yuan rose 0.7% to 6.8901 per dollar

  • The Australian dollar rose 1.3% to $0.6664

  • The British pound rose 0.7% to $1.2109

See also  Stocks Struggle as UK Inflation Fuels Hawkish Bets: Markets Wrap

Cryptocurrencies

  • Bitcoin rose 4.2% to $22,389.58

  • Ether rose 3% to $1,603.45

Bonds

  • The yield on 10-year Treasuries declined two basis points to 3.68%

  • Japan’s 10-year yield declined 10 basis points to 0.295%

  • Australia’s 10-year yield declined six basis points to 3.52%

Commodities

  • West Texas Intermediate crude rose 0.2% to $76.87 a barrel

  • Spot gold rose 0.6% to $1,878.83 an ounce

This story was produced with the assistance of Bloomberg Automation.

–With assistance from Vildana Hajric, Isabelle Lee and Akshay Chinchalkar.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Dive Equity Futures Markets Rally SVB Treasury Wrap yields
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Tale Of Two Markets: Chinese Stocks Slump As US Shares Soar

May 13, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Donald Trump Slams Rihanna Ahead of Super Bowl Halftime Performance: ‘No Talent!’

February 16, 2023

Tesla Faces Federal Scrutiny for Mysterious ‘Project 42’ to Build Elon Musk a Glass Mansion

September 1, 2023

Tom Brady x Kim Kardashian report gets slammed by fans for dragging Kanye West into discourse

July 22, 2023

London’s Metropolitan Police Officer Database Hacked

August 27, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

How Will Jay Monahan of the PGA Tour and Yasir al-Rumayyan Work Together?

June 12, 2023

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025

After Doubling Its Obamacare Enrollment, Cigna To Trim Two States From 16-State Footprint

August 28, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.