Stocks lower with US 10-yr yield remaining elevated

Markets will be monitoring moves in the Turkish currency and stocks after the Turkish Lira fell heavily

Stocks lower with US 10-yr yield remaining elevated

UK and European stocks have opened lower this morning. US stock index futures are also down a little. Markets will be monitoring moves in the Turkish currency and stocks after the Turkish Lira fell heavily. The volatility was caused by President Erdogan replacing the central bank chief following an interest rate hike that the President opposes. Investors will be closely watching banks with exposure to Turkey.

Markets struggled last week after the benchmark US 10-year Treasury yield rose above 1.7%. This morning the yield remains close to that level, with futures rising over the weekend.

US unemployment claims rose more than expected last week. Market attention will be on Fed Chairman, Jerome Powell, who is due to speak on Tuesday, as is Bank of England Governor Andrew Bailey.

 

Disclaimer:  ‘Where the business has expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice. The information contained within this communication is believed to be reliable but Realm Investment Management Limited does not warrant its completeness or accuracy. This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’

Download Our Free Brochure