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Bond Yields, Omicron Surges and Ukraine Talks - What's Moving Markets

Monday, January 10, 2022
Bond Yields, Omicron Surges and Ukraine Talks - What's Moving Markets © Reuters

By Geoffrey Smith

Investing.com -- Rising bond yields continue to put stocks under pressure after a labor market report that showed inflation pressures still bubbling. China's zero-tolerance Covid-19 policy comes under fresh strain amid evidence of community spread in a key port city. The U.S. and Russia talk down chances of easy progress as negotiations begin on de-escalating the situation in Ukraine, and oil prices stabilize after disruptions in Kazakhstan and Libya ease. Here's what you need to know in financial markets on Monday, 10th January.

1. Yields rise after payrolls; Goldman forecasts

Bond yields continued their upward march after the U.S. jobs report on Friday again highlighted the tightness of the labor market, with a sharper-than-expected rise in wage costs and a bigger-than-expected drop in the unemployment rate.

Analysts at Goldman Saches now predict 4 interest rate hikes from the Federal Reserve this year, and there was no implicit contradiction from Richmond Federal Reserve president Tom Barkin in an interview published by The Wall Street Journal on Monday, saying that a rate hike as early as March is “conceivable.”

The interest rate-sensitive 2-Year Treasury yield was holding near a two-year high at 0.87%, while the 10-Year benchmark yield inched higher to 1.78%. European bond yields flattened out after rising to their highest in a couple of years last week.

2. Omicron roundup: U.K. wave starts to peak; Australia's zero-tolerance policy in tatters, China's under strain

The changing nature of the pandemic was evident in fresh data from around the world. Optimists will be cheered by signs out of the U.K., the first advanced economy to record an Omicron-variant wave, suggesting that new infections have peaked in the capital London without overwhelming the healthcare system.

Pessimists, however, will point to surging case numbers from the U.S. to India and Australia, along with a parallel rise in absenteeism by front-line workers across the service sector, especially in healthcare.

Omicron has effectively wrecked Australia’s zero-Covid policy that had held for two years until last week. However, China is still sticking to that line, with a mass testing campaign in the key port city of Tianjin, after two cases of locally-transmitted Covid-19 were discovered last week.

3. Stocks set to open mostly lower. Pot stock earnings due

U.S. stocks are set to open mostly lower, with technology again underperforming against a backdrop of higher bond yields. Higher interest rates raise the opportunity costs of bets on companies with only long-term profit prospects, and the turn in long-term rates has cruelly exposed the sky-high valuations of many such companies.

By 6:15 AM ET, Dow Jones futures were flat, while S&P 500 futures were down 0.1% and Nasdaq 100 futures were down 0.3%.

Trading is expected to be largely subdued ahead of consumer price inflation data later in the week. Attention may focus on a JPMorgan (NYSE:JPM) retail conference ahead of the traditional start of earnings season on Friday, when Wall Street’s blue chips start to report. Cannabis company Tilray (NASDAQ:TLRY) heads up a thin earnings schedule on Monday.

4. Russia-U.S. talk Ukraine after Kazakh protests are squashed

The U.S. and Russia kicked off talks aimed at de-escalating the tension around Ukraine, but both sides warned that progress would be difficult.

Russia is seeking assurances that Ukraine will never be admitted to NATO, while the U.S. maintains that Ukraine should be as free as any other country to choose its political alignment. Over 100,000 Russian troops remain massed on the border between Russia and Ukraine.  Neither the European Union nor Ukraine itself are party to the talks.

The talks come a week after Russian-led troops largely restored order in the former Soviet Republic of Kazakhstan, bolstering Russian power in central Asia.

5. Oil prices ease as output disruptions are overcome

Oil prices stabilized as shortfalls in exports from Kazakhstan and Libya last week began to ease. The Chevron-led venture that operates Tengiz, a 600,000 barrel-a-day field in Kazakhstan, said on Sunday that the field is gradually returning to normal production levels after protests disrupted output last week.

Meanwhile in Libya, work on an export pipeline that had shaved 200,000 b/d of output from its exports last week is now complete, allowing the country to produce a total of 900,000 b/d. Tensions related to the country’s smouldering civil war are still ensuring that output remains well below the country’s potential.

By 6:25 AM ET, U.S. crude futures were down 0.3% at $78.69 a barrel, while Brent crude was down 0.1% at $81.64 a barrel.

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24-01-2022 06:34:07 (UTC+7)

EUR/USD

1.1312

-0.0028 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.1312

-0.0028 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.3497

-0.0057 (-0.42%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

USD/JPY

113.69

+0.01 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

AUD/USD

0.7134

-0.0049 (-0.68%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

USD/CAD

1.2614

+0.0033 (+0.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

EUR/JPY

128.61

-0.30 (-0.23%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

EUR/CHF

1.0318

-0.0015 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (8)

Gold Futures

1,838.70

+6.90 (+0.38%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Silver Futures

24.085

-0.235 (-0.97%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Copper Futures

4.4358

-0.0882 (-1.95%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Crude Oil WTI Futures

84.78

-0.36 (-0.42%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

86.75

-0.33 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

3.762

-0.020 (-0.53%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (2)

US Coffee C Futures

233.58

-4.32 (-1.82%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

Euro Stoxx 50

4,141.85

-87.71 (-2.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,397.93

-84.80 (-1.89%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,320.71

-283.17 (-1.81%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,402.68

-91.45 (-1.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Hang Seng

24,656.46

-309.09 (-1.24%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (1)

US Small Cap 2000

1,987.92

-36.12 (-1.78%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,533.34

-161.36 (-1.86%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

65.135

-1.045 (-1.58%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Bayer AG NA

51.14

-0.48 (-0.93%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (7)

Allianz SE VNA O.N.

219.60

-2.10 (-0.95%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Adidas AG

245.57

-5.03 (-2.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Deutsche Lufthansa AG

6.749

-0.160 (-2.32%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (8)

Siemens AG Class N

140.96

-3.56 (-2.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

11.079

-0.399 (-3.48%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

 EUR/USD1.1312↑ Sell
 GBP/USD1.3497↑ Sell
 USD/JPY113.69↑ Sell
 AUD/USD0.7134↑ Sell
 USD/CAD1.2614↑ Buy
 EUR/JPY128.61↑ Sell
 EUR/CHF1.0318↑ Sell
 Gold1,838.70↑ Buy
 Silver24.085Buy
 Copper4.4358↑ Sell
 Crude Oil WTI84.78↑ Sell
 Brent Oil86.75↑ Sell
 Natural Gas3.762↑ Buy
 US Coffee C233.58Buy
 Euro Stoxx 504,141.85↑ Sell
 S&P 5004,397.93↑ Sell
 DAX15,320.71↑ Sell
 FTSE 1007,402.68↑ Sell
 Hang Seng24,656.46↑ Buy
 Small Cap 20001,987.92Buy
 IBEX 358,533.34↑ Sell
 BASF65.135↑ Sell
 Bayer51.14↑ Sell
 Allianz219.60↑ Sell
 Adidas245.57↑ Sell
 Lufthansa6.749↑ Sell
 Siemens AG140.96↑ Sell
 Deutsche Bank AG11.079↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
(50/ 50) # 1,154
SJC HCM6,150/ 6,210
(27/ 17) # 1,155
SJC Hanoi6,150/ 6,212
(27/ 17) # 1,157
SJC Danang6,150/ 6,212
(27/ 17) # 1,157
SJC Nhatrang6,150/ 6,212
(27/ 17) # 1,157
SJC Cantho6,150/ 6,212
(27/ 17) # 1,157
Cập nhật 24-01-2022 06:34:10
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ↀ Giá vàng thế giới
$1,837.48+2.850.16%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$84.56+1.061.24%
Brent$86.87+1.031.17%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.500,0022.810,00
EUR25.000,4426.401,93
GBP29.901,5831.178,49
JPY193,25204,57
KRW16,4019,98
Cập nhật lúc 18:24:56 24/01/2022
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