Morning Briefing: Global equities mostly lower as oil slips

Morning Briefing: Global equities mostly lower as oil slips

Morning Briefing: Global equities mostly lower as oil slips Global equities mostly lower as oil slips
Global equity markets are mostly lower Tuesday as oil prices continue to decline amid oversupply concerns. The attempted military coup in Turkey at the weekend had given oil a boost but fears have quickly returned regarding growing stocks and waning demand.

The concerns over oil are despite expected higher draws on US stockpiles and a reduction in output from shale producers.

Asian indexes closed lower with the exception of Tokyo, which gained despite a 10 per cent drop for SoftBank following its bid for ARM. Australian miners’ stocks were pressured as the first reports on quarterly production figures were released.

European markets are also lower as oil prices decline and on concern over recent geopolitical unrest and terrorist activity. UK inflation was higher in June according to official figures, with airfares a significant impact.

Wall Street and Toronto are expected to open flat.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,533.05 (+0.09 per cent) +4.85 per cent +2.47 per cent
TSX Composite 14,532.40 (+0.35 per cent) +4.54 per cent -0.75 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,672.11 (-0.35 per cent) +10.81 per cent -1.52 per cent
German DAX 9,947.20 (-1.15 per cent) +3.28 per cent -14.79 per cent
 
Asia (at close)
China CSI 300 3,248.23 (-0.42 per cent) +4.43 per cent -21.76 per cent
Japan Nikkei 16,723.31 (+1.37 per cent) +7.20 per cent -19.02 per cent
 
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
46.76
(-0.43 per cent)
45.08
(-0.35 per cent)
1334.50
(+0.39 per cent)
U$0.7686
 
Aus. Dollar
U$0.7499

 
Morgan Stanley economist bullish on US Treasury yields
Matthew Hornbach of Morgan Stanley said Monday that he expects US Treasury 10-year yields to fall to 1 per cent in the first quarter of 2017, a bullish outlook compared to his peers.

Bloomberg reports that Hornbach, head of global interest rate strategy at MS in New York, is more bullish that 61 other economists surveyed with 1.2 per cent the next lowest estimate.

US Treasuries have been popular investments for foreign investors as the yields from European and Japanese equivalents have been negative.