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Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
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Hang Seng — Hong Kong Index
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STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The yield on the US 10-year Treasury note eased to around 4.65% on Friday and was on track to finish the week lower as investors assessed the Federal Reserve’s cautious policy stance. The central bank left interest rates unchanged on Wednesday despite mounting inflationary pressures stemming from renewed hostilities in the Middle East, although three FOMC members voted in favor of a rate hike. While Chair Kevin Warsh reaffirmed the Fed’s commitment to bringing inflation under control and emphasized that policymakers would act if needed, he did not support an immediate increase and stopped short of providing clear forward guidance. Even so, markets are currently pricing in about a 63% chance of a 25-basis-point Fed rate hike in September. Meanwhile, geopolitical tensions remained elevated after the US military launched fresh strikes on Iranian targets in retaliation for Tehran’s attacks on US assets across the Middle East, reducing the likelihood of any near-term diplomatic agreement.
