Global cues looking better as US markets bounces from base lows
Global cues are looking a little better with US markets, the S&P500, the Dow Jones and the NASDAQ bouncing from the base lows by about 1-1.5 percent. At one point it looked like it would be a repeat of the day before, but that was not to be. There were small positive closes on the day overnight.
Global cues are looking a little better with US markets, the S&P500, the Dow Jones and the NASDAQ bouncing from the base lows by about 1-1.5 percent. At one point it looked like it would be a repeat of the day before, but that was not to be. There were small positive closes on the day overnight.
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However, it doesn’t give any large amount of comfort, yields are continuing to surge, nominal yields are 3 basis points (bps) higher on the 5-year. The 10-year yield is up 6 bps at 2.66 percent and the surprise for the market has been all the FedSpeak, Fed officials who were previously dovish are now sounding hawkish and hawkish Fed officials are sounding even more hawkish.
Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.
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