Investors flee bonds and snap up commodities on economic recovery hopes, while European stocks trade lower.
The spread of COVID-19 vaccines gave many people a new wave of hope for a normal future. Investors are no exception. In fact, they have been quite vigorous in fleeing bonds and snap up commodities in hopes the rollout of COVID-19 vaccines will regenerate the global economy. The result was lower EU stocks on Monday.
The yield on the benchmark 10-year Treasury TMUBMUSD10Y, 1.351%, rose as high as 1.39% in the wake of rising 14 basis points a week ago. The yield on the 10-year U.K. plated TMBMKGB-10Y, 0.689%, and German bund TMBMKDE-10Y, – 0.328% additionally expanded.
Technology-sector maker ASML Holding ASML, – 1.99% fell. The food-delivery companies that have been thriving during the lockdown have gone lower; for example, Hero DHER, – 3.49%, HelloFresh HFG, – 5.51%, and general store chain Ocado OCDO, – 2.58%.
After a minuscule rise of 0.2% last week, the Stoxx Europe 600 SXXP, – 0.70% drooped 0.7%. U.S. stock futures YM00, – 0.63% ES00, – 0.79% NQ00, – 1.50%.
Travel companies and airports like Aéroports de Paris ADP rose 1.52%.
Stocks gain in Hong Kong and Shanghai despite tech selloff on Wall Street.
Japanese business sectors were shut for a public holiday. South Korea’s Kospi 180721, 0.14% slipped 0.2% during the day trading while Australia’s S&P/ASX 200 XJO acquired 0.4%. Hong Kong’s Hang Seng HSI, +1.48%, bounced at 0.5%, while the Shanghai Composite SHCOMP, which was 0.34%, rose to 0.3%. Stocks fell in Taiwan Y9999, – 0.12% yet progressed in Singapore STI, +0.73%, while Indonesia JAKIDX, +0.07% was minimal changed.
On Wall Street, the S&P 500 SPX, – 0.77% fell 0.8% to 3,876.50. Apple AAPL, – 2.98% fell 3%, Microsoft MSFT, – 2.68% dropped 2.7%, Tesla TSLA, – 8.55% drooped 8.5% and Amazon AMZN, – 2.13% lost 2.1%.
The Dow Jones Industrial Average DJIA, +0.09% acquired 0.1% to 31,521.69. The Nasdaq COMP, – 2.46% lost 2.5% to 13,533.05.
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