Today’s Stock Exchanges, June 8th. Markets fear a new tightening by central banks, bond yields rise. Weak price lists
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MILAN – Central banks still dictate the mood of the markets. Yesterday’s surprise decision by the Central Bank of Canada to raise rates again, following Australia’s similar decision, fuels concerns that monetary tightening is set to continue. Bond yields moved higher in the morning, with the 10-year US Treasury at 3.8%. The equity market, already weak in Asian trade, had an opposite sign, with Tokyo closing down by 0.85%.
The gas opens on the decline
Natural gas opens on the TTF square in Amsterdam in decline. The ‘futures’ contracts for the month of July drop 0.12% to 26.30 euros per MWh
Spreads up
The spread between the German 10-year BTPs and Bunds rose to 185 points, against 182.2 at the previous closing. The Italian annual yield rises by 2.7 points to 4.299%, almost 4.3%, against the 2.45% of the German yield which remains unchanged.
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