Market Perspectives
U.S. equities retreated this week as investors took profits in the technology sector, ending a powerful rally that had carried major indexes to record highs. The Nasdaq Composite led declines, falling 4.68%, while the S&P 500 dropped 2.59%, its first weekly loss since March. The Dow Jones Industrial Average proved more resilient, slipping just 0.32%. Across the Atlantic, the STOXX Europe 600 fell 0.53%, with Germany's DAX declining 1.38%, Italy's FTSE MIB losing 0.29% and the UK's FTSE 100 slipping 0.40%, while France's CAC 40 bucked the trend with a 0.43% gain. In Asia, performance was mixed: Japan's Nikkei 225 rose 0.39%, while China's Hang Seng Index fell 0.88%, although gains in technology shares helped limit losses. Looking ahead, investors will focus on inflation data from the U.S., China and several other major economies, alongside policy decisions from both the ECB and the Bank of Canada.…
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BONDS & MACROECONOMICS
Treasury yields moved higher across most maturities as resilient economic data, volatile oil prices and hawkish commentary from Federal Reserve officials reinforced concerns that rates may need to remain elevated for longer. Friday's payrolls report triggered a sharp repricing, EUR/USD broke below 1.16 and the VIX rose 40%.
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