Volatile day on the markets amid Russia suggestion it would ease up on Ukraine, the firing of the British finance minister and the start of U.S. earnings season
Oil settled sharply lower as recession concerns translated to worries about demand and the potential for easing tensions between Russia and Ukraine added pressure.
The U.S. third quarter earnings season started on a positive note with shares of JPMorgan Chase & Co, Wells Fargo & Co and Citigroup Inc rising after their reports. “We’re back to looking at inflation data very carefully. The Fed does watch inflation expectations. They certainly don’t want inflation expectations to become ingrained in consumer sentiment,” said Mahajan, who also noted signs of fear in the market as the CBOE Volatility index remained above 30.Article content
Investors appeared to have little confidence in the prime minister’s position or the likelihood that her decisions on Friday could restore Britain’s credibility in financial markets.Article content Benchmark 10-year notes were up 5.2 basis points to 4.006%, from 3.954% late on Thursday. The 30-year bond was last up 3.8 basis points to yield 3.9711%, from 3.933%. The 2-year note was last was up 5.8 basis points to yield 4.5066%, from 4.449%.Article content
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