Reuters-Global stocks flatline after surge in bond yields drives equity sell-off
September 27, 2023 3 min 551 words
这篇报道反映了全球股市在债券收益率急剧上升导致的股市抛售后的平稳表现。尽管前一天发生了大规模的股市抛售，但本文指出，全球股市的波动相对较小。与此同时，美国国债收益率触及自2007年以来的最高水平后有所下降。这一现象表明，市场对中央银行将维持“更长时间较高”的利率政策以遏制通货膨胀的预期产生了影响。 全球股市指数自9月初以来已下跌了4.5%，这反映了投资者对中央银行政策的担忧。报道还提到了一系列因素，如美国政府可能面临的关门风险、中国经济衰退的迹象以及油价的上涨，这些都对市场情绪产生了不利影响。 报道还关注了中国企业的健康状况，特别是中国工业企业前8个月的利润下降。此外，中国房地产集团恒大的主席被警方监视，凸显了中国房地产市场的紧张局势。 总的来说，这篇报道表明，全球股市面临多重不确定性，包括货币政策、经济前景以及地缘政治因素。投资者需要密切关注这些因素，以适应市场的变化。
LONDON/HONG KONG (Reuters) - Global stocks were little changed on Wednesday after a sharp sell-off the previous day, while U.S. Treasury yields dipped after hitting their highest level since 2007.
Meanwhile, the index tracking the U.S. dollar against its peers rose for the fourth straight session to its highest since November.
Stocks and bonds have dropped in recent weeks as investors come to terms with the idea that central bankers will hold interest rates “higher for longer” than previously expected, to try to squeeze inflation out of economies.
MSCI’s index of global stocks was down 0.06% on Wednesday after falling 1.2% the previous day. The index has fallen 4.5% since the start of September.
The Europe-wide STOXX 600 index was up 0.05%, after dropping 0.6% in the previous session in its fourth consecutive daily fall.
Germany’s Dax index was flat while Britain’s FTSE 100 fell 0.1%.
“The latest catalyst has been the increase in bond yields, so if that stabilises then maybe the equity market stabilises as well,” said Jan von Gerich, chief analyst at Nordea.
“The big picture outlook is that we’re probably close to the peak (in bond yields) but the near-term momentum is still upwards.”
On Wednesday, the yield on the 10-year U.S. Treasury note was down 5 basis points to 4.509%, after touching its highest level since October 2007 on Tuesday at 4.566%. A bond’s yield rises as its price falls, and vice versa.
U.S. equity futures picked up, with contracts for the benchmark S&P 500 stock index 0.38% higher. Dow Jones futures were up 0.32% and Nasdaq futures rose 0.35%.
The S&P 500 dropped 1.47% on Tuesday, falling to its lowest since June.
Also on investors’ minds is a looming U.S. government shutdown; further signs of an economic slump in China; and a recent rise in oil prices.
“I wouldn’t rule out further adjustment (in stocks) because we have the economic impact that the market might not fully appreciate yet,” said Janet Mui, head of market analysis at RBC Brewin Dolphin.
She said strikes by U.S. auto workers, a resumption of student loan repayments, and the rise in energy prices could hurt Americans’ spending power.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.06%. The index is down 3.7% so far this month.
Chinese corporate health was a focal point. Profits at China’s industrial firms fell 11.7% in the first eight months of the year, albeit a smaller decline than the 15.5% drop for the first seven months.
As stress spreads in the Chinese property sector, Bloomberg reported that the chairman of beleaguered Chinese property group Evergrande has been placed under police surveillance.
U.S. crude oil was 1.6% higher to $91.84 a barrel. Brent crude rose 1.28% to $95.16 per barrel.
The U.S. Senate on Tuesday took a step forward on a bipartisan bill meant to stop the government from shutting down in just five days, but the House remains hamstrung by divisions between Republican members.
Meanwhile, investors were also on the lookout for government intervention in the Japanese yen after it fell past the 149 per dollar mark on Tuesday for the first time in just under a year.