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
The UK 10-year gilt yield eased to 5.38%, retreating from recent 19-year highs, as the oil price rally paused and an in-line UK inflation report prompted traders to scale back expectations for further Bank of England rate hikes. UK annual inflation accelerated to 3.1% in August, as widely expected, from 2.9% in July, largely reflecting higher fuel costs. Core CPI was unchanged at 2.6%, while services inflation, a key focus for the Bank of England, came in at 3.4%, slightly below the 3.5% expected. No change to UK interest rates is expected at Thursday’s meeting, while a hike remains broadly priced for November, albeit with less conviction. Further out, markets have also scaled back expectations for hikes through the end of next year, with four now priced comfortably versus five previously. Elsewhere, oil prices eased from four-month highs following a surprise rise in US crude inventories, despite widening supply disruptions across the Middle East.
