November 29, 2024
United States:
US Futures Gain as Dollar Snaps 8-Week Winning Run: Markets Wrap
US equity futures gained with Treasuries Friday, while speculation that president-elect Donald Trump will temper his most extreme trade policies drove the dollar to its biggest weekly loss in three months.
Contracts on the S&P 500 rose 0.2%, pointing to modest gains in Friday’s shortened, post-holiday trading session Wall Street. The 10-year Treasury yield fell five basis points to 4.21%, the lowest in more than a month, as cash trading resumed after the Thanksgiving holiday.
Europe:
Euro-Zone Inflation Accelerates But Won’t Derail ECB Cuts
Euro-area inflation climbed above the European Central Bank’s 2% target, though officials are unlikely to be deterred from continuing to lower interest rates next month and beyond.
Consumer prices rose 2.3% from a year ago in November, up from 2% in October and matching the median estimate in a Bloomberg survey of analysts.
Asia:
PBOC Injects $111 Billion of Liquidity as Bond Supply Surges
China boosted its cash injection into the banking system via a recently launched policy tool, in a move designed to ensure sufficient liquidity amid a surge in local government bond sales.
The People’s Bank of China conducted 800 billion yuan ($111 billion) of outright reverse repurchase agreements in November, according to a statement Friday, exceeding the 500 billion yuan injected last month.
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