FAST FIVE: Futures Rebound From 2022 Low After Bank Of England Panics, Restarts Unlimited QE
HSBC fell as much as 5.3%, Barclays 6%, and insurer Aviva 7.9% Norway unveiled a plan to tap power and fish companies for 33 billion kroner ($3 billion) a year to cover ballooning budget expenditures, sending salmon farmers' stocks falling.
Out of 2,169 stocks in the index, 943 rose and 1,137 fell, while 89 were unchanged.
“As long as monetary and fiscal policy worldwide are really not coming to strengthen their own currencies, we should be anticipating a very strong dollar.” In rates, Treasury yields fell, following a more aggressive bull flattening move across the gilt curve, after Bank of England announced it would step into the market and buy long-dated government bonds, financed with new reserves.
Gilt yields rose to fresh highs across the curve, with the selloff accelerating late in the session to leave the 10yr yield up by +26.1bps at a post-2008 high of 4.50%.
To the day ahead now, and there are an array of central bank speakers including Fed Chair Powell, the Fed's Bostic, Bullard, Bowman, Barkin and Evans, ECB President Lagarde, the ECB's Kazimir, Holzmann and Elderson, as well as BoE Deputy Governor Cunliffe and the BoE's Dhingra.