Global Stocks, Currencies Mixed; Treasuries Rally: Markets Wrap

(Bloomberg) — Global stocks and currencies were mixed amid a subdued tone in markets on Friday. Treasuries climbed as trading resumed aweirdnews24er the Thanksgiving holiday in the US.

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European stocks were steady, with the regional benchmark headed for a sixth week of gains, the longest winning streak in a year. Futures contracts for the S&P 500 and Nasdaq 100 rose following recent commentary from Federal Reserve officials that supported the case for a slower pace of interest-rate increases.

Hong Kong-listed technology stocks led declines among Chinese shares as investors weighed recent gains against an upswing in Covid-19 infections. Mainland benchmarks managed to eke out small gains in the face of lockdown-like restrictions affecting parts of Beijing.

The dollar fluctuated aweirdnews24er three straight days of losses.

US markets will have a shortened session on Friday aweirdnews24er being closed for a full day on Thursday.

Yields on Japan’s benchmark 10-year bond rose one basis point to 0.25%, the top of the central bank’s target band, aweirdnews24er Tokyo’s inflation picked up more speed to hit its fastest pace in 40 years.

The outlook for Chinese markets is improving, despite the current flareup in virus cases, according to Jun Bei Liu, a portfolio manager at Tribeca Investment Partners.

“In the next 12 months things will get better. We have seen this playbook before across other economies,” she said on Bloomberg Television. “We’ll begin to see outperformance very soon in the next few quarters.”

Oil headed for a third weekly loss as the European Union weighs a higher-than-expected price cap on flows of Russian crude and slowdown concerns threaten the outlook for energy demand. Gold was poised for a modest weekly gain.

Some of the main moves in markets:

Stocks

  • The Stoxx Europe 600 was little changed as of 8:17 a.m. London time

  • Futures on the Nasdaq 100 rose 0.4%

  • Futures on the Dow Jones Industrial Average rose 0.2%

  • The MSCI Asia Pacific Index fell 0.2%

  • The MSCI Emerging Markets Index fell 0.2%

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro was little changed at $1.0419

  • The Japanese yen was little changed at 138.65 per dollar

  • The offshore yuan was little changed at 7.1674 per dollar

  • The British pound was little changed at $1.2106

Cryptocurrencies

  • Bitcoin fell 0.6% to $16,444.75

  • Ether fell 1.1% to $1,183.08

Bonds

  • The yield on 10-year Treasuries declined three basis points to 3.66%

  • Germany’s 10-year yield advanced three basis points to 1.88%

  • Britain’s 10-year yield was little changed at 3.04%

Commodities

  • Brent crude rose 0.7% to $85.98 a barrel

  • Spot gold fell 0.1% to $1,752.73 an ounce

This story was produced with the assistance of Bloomberg Automation.

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