With CEO Annie Seelaus
Markets are opening up mixed this morning with equities trading up in Japan and down in Europe and stateside. Oil was up over 10% yesterday, the most in six years, and was last trading $47.15/bbl.
Global equities are up on news that China’s government resumed its intervention in the stock market to stabilize the market (Euro Stoxx up 2.98%, Nikkei +1.08%, Hang Seng +3.60%, DJIA Fut +168, S&P FUt +19.25).
After the ugly close in the US equity market yesterday, global equities are generally off less than 1% this morning. The Treasury market is down with the 30-year off 1 point at 2.848% and oil is trading unchanged.
After yesterday’s turmoil, the equity markets are better today with both European and Asian markets up around 4%. US equity futures are up big with DJIA +558 and S&P +66.25.
The market rout in global equities continues this morning. After the 500 plus point drop in the US, the market was down 5.82% last week. This morning Europe’s STOXX is off 5.3%.
Munis are unchanged this morning after a quiet trading day Friday. The focus this week will be mostly on the secondary with such light new issuance (four deals will make up the majority of this week’s new issue calendar).
Tough overnight session for global equities after China's move to devalue the yuan sent equities lower. The central bank cut its daily reference rate 1.9% in an effort to combat the economic slowdown plaguing the region.
Asian stocks trading up on speculation that the Chinese government will merge industrial companies and Europe is up on technology companies’ earnings and energy names’ rebounding in crude prices.
US Equities are unchanged to down slightly ahead of the 8:30am payroll data. The survey calls for a 225k increase in Nonfarm Payroll, and no change in the Unemployment rate at 5.3%.
Chinese stocks continue their decline despite unprecedented government intervention and there is still pressure on energy stocks as oil retreated again this morning, touching the lowest levels in four months.
Stocks, Bonds & Beyond
With Founder and Chairman Rich Seelaus