FAST FIVE: Futures Jump, Yields And Dollar Slide After Gundlach Says He's A "Buyer" Of Treasuries
Futures Jump, Yields And Dollar Slide After Gundlach Says He's A “Buyer” Of Treasuries US equity futures and European stocks staged a solid rebound after the recent rout which saw the S&P close at a fresh 2022 low on Monday, as the dollar finally weakened against all of G-10 peers, snapping a five-day gain of new record highs as Treasury yields fell and the pound rebounded from a record low, even as (or perhaps because) Goldman Sachs and BlackRock soured on equities for the short term and Citigroup said bearish positioning continues to rise.
Segro -3.3%, Rightmove -5.1%, LXI REIT -3.3% and Samhallsbyggnadsbolaget i Norden -4.7%, Fabege -2.9%, Castellum -2.5% Earlier in the session, Asian stocks rose from their lowest level in more than two years as equities in China and Japan advanced. The MSCI Asia Pacific Index added as much as 0.5%, poised to snap four-days of losses.
Out of 2,169 stocks in the index, 1,245 rose and 785 fell, while 139 were unchanged.
Japanese stocks have been supported by low valuations as well as Prime Minister Kishida's moves to raise the limit for tax breaks on individual investment and relax border controls.
Yen traders are more concerned over a potential pivot by the Bank of Japan.