S&P 500 Futures retreat amid geopolitical fears, sluggish yields, Fedspeak, China eyed – by anilpanchal7 SP500 Futures YieldCurve Fed China
While portraying the mood, S&P 500 Futures retreated from the highest levels since early February, marked the previous day, as it prints mild losses near 4,178 during early Wednesday. It’s worth noting that the US stock futures snap a two-day winning streak with the latest inaction.
On the other hand, the US 10-year and two-year Treasury bond coupons dropped for the first time in four days by the end of Tuesday, sluggish around 3.59% and 4.21% by the press time. The recent chatters surrounding the US House China Committee’s discussion about the Taiwan invasion scenario and a likely drag on the US debt ceiling decision seem to exert downside pressure on the risk profile of late. On the same line could be the recently downbeat US data and hawkish Fed bets. It should be observed that mixed earnings also prod the equity buyers of late.On the other hand, the US Housing Starts and Building Permits roiled the mood with downbeat prints for March on Tuesday.
Furthermore, St. Louis Federal Reserve President James Bullard said on Tuesday, in an interview with Reuters, “Interest will need to continue to rise in the absence of clear progress on inflation.” On Monday, Richmond Fed President Thomas Barkin said that he wants to see more evidence of inflation settling back to target. Recently, Atlanta Fed President Raphael W. Bostic who recently mentioned that the economy is still gaining momentum, but inflation is too high.
Elsewhere, Bloomberg released news suggesting China’s role in the Russia-Ukraine war joins US President Joe Biden’s resistance in negotiating debt limit to also weigh on the sentiment.
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