Svetovne delnice rastejo, ko inflacija vleče naprej za dvig obrestnih mer, dolar umirjen

* Indeks MSCI AxJ narasel za 0.4 %; Nikkei navzgor za 1.4 %

* Krivulja donosnosti zakladnice se izravna; dvig dolarja se ustavi

* Čakajo se govorci Feda, podatki o zaslužkih ameriških bank in PPI

Avtor Tom Westbrook

SINGAPORE, Oct 14 (Reuters) – World stock markets rose and longer-dated bonds rallied on Thursday as investors reckoned rising inflation would bring forward rate hikes around the world.

Dolar se je še bolj znižal od najvišjih vrednosti leta 2021, ki jih je dosegel v začetku tedna.

Europe’s STOXX 600 index climbed to its highest point of the month as it opened up 0.6%. London’s FTSE and the DAX and CAC40 in Frankfurt and Paris were all going nicely, and Wall Street futures added 0.5% too .

MSCI’s index of Asian shares outside Japan gained 0.5%. Japan’s Nikkei climbed 1.4%. Property shares suffered in Shanghai, holding the broader index flat, while Hong Kong markets were closed for a holiday.

Kitajska je zagotovila najnovejši signal cenovnega pritiska, ki se širi po dobavnih verigah, saj so podatki pokazali, da so letne cene proizvajalcev septembra rasle najhitreje v zgodovini.

That followed figures on Wednesday showing another solid increase in U.S. consumer prices last month, along with minutes from September’s Federal Reserve meeting which suggested policymakers’ growing concern about inflation.

Markets’ response has been to bet that central bankers are forced to raise rates sooner rather than later, but that they then sit on their hands for a while. Fed Funds futures are all but priced for a 25 basis point hike next September, brought forward from near the end of 2022, but pricing also suggests rates hovering around just 1.5% in five years’ time.

“The market continued to pull forward the pricing of the first rate hike while also decreasing terminal rate pricing, which we believe is a reflection of the market pricing in a policy mistake,” said analysts at TD Securities.

Kratkoročni donosi zakladnice so se povečali, medtem ko so dolgoročni donosi padli, kar je krivuljo izravnalo. Zlato je bilo stabilno, potem ko je v sredo uživalo v najboljši seji v sedmih mesecih. Bitcoin, ki so ga včasih hvalili kot varovalo pred inflacijo, je zrasel za 1.5 % na petmesečno najvišjo vrednost 58,550 $.

Zgodba se nadaljuje

Dolgoročnejša donosnost se je znižala tudi v Aziji in dolar, ki se je okrepil do septembra, nato pa močno upadel z znižanjem donosnosti dolgoročnih državnih obveznic, je nekoliko povečal izgube.

Kasneje čez dan trgovci čakajo na cene proizvajalcev v ZDA in številke zahtevkov za brezposelnost ter nastope oblikovalcev politike Bank of England in Federal Reserve.

Načrtovana so tudi poročila o dobičku Bank of America, Wells Fargo, Morgan Stanley in Citi.

OSREDITEV POLITIKE

Besides removing reference to Fed members “generally” expecting inflation pressures to ease, last month’s minutes also showed agreement that tapering asset purchases will soon begin.

Central banks elsewhere are also calling time on pandemic-era policy support. Singapore’s central bank unexpectedly tightened monetary policy on Thursday, citing forecasts for higher inflation .

In Australia, a drop in employment figures and remarks from a central bank official about laggardly wages haven’t derailed a buildup of recent market bets on rate hikes beginning next year either.

Trgi zamenjav so do konca leta 90 ocenili zvišanje obrestnih mer za približno 2023 bazičnih točk, čeprav je avstralska centralna banka vztrajala, da kakršna koli povišanja pred letom 2024 niso verjetna.

Currency markets were fairly quiet on Thursday after the dollar’s Wednesday drop – which was its steepest fall on the euro in five months.

The euro edged higher to $1.1601 in Asia while sterling, the Australian dollar and the New Zealand dollar added a little bit to Wednesday’s gains.

Na področju surovin so se četrtkove terminske pogodbe za nafto ustalile in se udobno gibale nad 80 USD za sod, pri čemer je ameriška nafta znašala 81.09 USD za sod, brent pa 83.88 USD.

Zlato je čez noč zraslo pri 1,792 USD za unčo.

Donos 10-letne zakladnice je znašal 1.5491 %, potem ko je čez noč padel za tri bazične točke, dvoletni donos pa se je rahlo zmanjšal na 0.356 %, potem ko se je čez noč dvignil za 1.8 bazične točke.

(Poroča Tom Westbrook; Montaža Edwina Gibbs in Muralikumar Anantharaman)

Vir: https://finance.yahoo.com/news/global-markets-stocks-inflation-pulls-071626752.html