S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Germany’s 10-year Bund yield rose to 3.55%, its highest level since June 2009, as investors increased bets on further European Central Bank rate hikes amid renewed inflation concerns and ahead of today’s US Federal Reserve decision. Markets are now pricing the ECB deposit rate at around 2.9% by December, up from the current 2.5%. Further out, the rate is seen reaching 3.4% by November 2027, fully pricing a third hike and implying roughly a 50% probability of a fourth move. The ECB raised rates last week for the second time this year in an effort to contain an energy-driven rise in inflation, while warning that price pressures could prove persistent. The comments have strengthened expectations for further tightening. Meanwhile, US policymakers are widely expected to raise rates by 25 basis points later today, the first hike in three years, with markets also looking for signals on the prospect of further tightening.
