Big Tech heavyweights Microsoft and Alphabet are set to switch global investors' focus from Monday's bond market bounce, although the latter has improved the...
Big Tech heavyweights Microsoft and Alphabet are set to switch global investors' focus from Monday's bond market bounce, although the latter has improved the market mood considerably ahead of the week's big earnings reports.
The sight of 10-year Treasury yields topping 5% for the first time in 16 years early on Monday underscored that angst - but the pressure eased significantly during the session as some bond buyers emerged above to lock in yields above that threshold. More broadly, sovereign debt prices were also helped on Tuesday by signs of mounting pressure on business activity around the world from spiralling borrowing costs, anxious geopolitics and China's economic problems.Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, early "flash" surveys for October showed. The euro fell back sharply from one-month highs.
Elsewhere, Britain's FTSE 100 underperformed due to a near 7% drop in shares of Barclays after the UK lender cut its full-year guidance on net interest margins despite beating quarterly profit forecast. Kevin Paffrath slammed Elon Musk's comments on Tesla's third quarter earnings call in an interview with Yahoo Finance this week.
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