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 MarketUK 10-year gilt yields rose above 5%, nearing levels last seen in 2008, as investors anticipated potential Bank of England interest rate hikes to tackle inflation. Attention is also on Britain’s municipal elections this Thursday, with polls suggesting a possible setback for Prime Minister Keir Starmer’s Labour Party. The yield increase reflects ongoing global energy disruptions, with oil prices at four-year highs and the Strait of Hormuz remaining closed due to the US-Israeli conflict with Iran. Markets are now pricing in nearly three quarter-point rate hikes from the Bank of England this year. However, uncertainty remains after the BoE held rates steady, citing the wide-ranging economic impacts of the Iran war, from scenarios requiring aggressive rate rises to those needing no action. Governor Andrew Bailey described the decision as a “difficult judgement call,” warning that waiting for clearer inflationary pressures could risk a delayed response.
