Morning Briefing: Markets fall out of love with risk-taking ahead of Yellen

Morning Briefing: Markets fall out of love with risk-taking ahead of Yellen

Morning Briefing: Markets fall out of love with risk-taking ahead of Yellen
Markets fall out of love with risk-taking ahead of Yellen
There’s little love for risk-taking so far Tuesday as markets await Fed chair Janet Yellen’s testimony to lawmakers.
 
With many pricing in a March interest rate hike, Yellen’s comments will be carefully dissected for clues over the next two days. Along with interest rates, banking regulations will be a keenly-watched part of the Fed chair’s speech.

Asian bourses closed mixed Tuesday with only Shanghai keeping its head above water. Stronger CPI data helped. Japanese stocks lost ground despite better industrial production data.

European markets are also subdued with Eurozone GDP and CPI data showing weakness in the bloc while German GDP fell short of expectation while its CPI figures were flat. A raft of UK data was better.

Wall Street and Toronto are expected to open lower. Janet Yellen addresses the Senate Banking Panel at 3pm EST.

 

Latest

1 month ago

1 year ago

North America (previous session)

US Dow Jones

20,412.16 (+0.70 per cent)

+2.65 per cent

+27.78 per cent

TSX Composite

15,756.58 (+0.17 per cent)

+1.67 per cent

+27.26 per cent

Europe (at 5.00am ET)

UK FTSE

7,285.41 (+0.09 per cent)

-0.71 per cent

+27.64 per cent

German DAX

11,766.04 (-0.07 per cent)

+1.18 per cent

+31.21 per cent

Asia (at close)

China CSI 300

3,435.80 (-0.01 per cent)

+3.49 per cent

+15.93 per cent

Japan Nikkei

19,238.98 (-1.13 per cent)

-0.25 per cent

+28.67 per cent

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

56.13

(+0.97 per cent)

53.36

(+0.81 per cent)

1230.30

(+0.37 per cent)

U$0.7667

 

Aus. Dollar

U$0.7683

 
Former Goldman Sachs banker sworn in as Treasury Secretary
President Trump swore-in Steven Mnuchin as Treasury Secretary late Monday following a Senate vote of 53-47 in favour.

The former Goldman Sachs banker and financier will focus on tax reform, financial regulation and economic diplomacy, Reuters reports.

The president said Mnuchin will be a “great champion” for US citizens.

More market talk: