Stocks correcting Thursday's losses


The tech-heavy Nasdaq 100 index dropped 3% yesterday as bond yields surged to fresh highs. The 10-year yield hit 1.75%, which is considered the last meaningful resistance on the way to 2%.

However, the 2% threshold should mobilize the Fed to start some form of a yield curve control, many analysts say. Indebted companies, along with the government, can't afford to pay higher interest rates.

The sentiment seems positive on Friday as US futures were up notably, especially the Nasdaq 100 index, as yields fell somewhat. However, the medium-term trend remains unclear as rising yields will cause more volatility in the markets.

Elsewhere, Germany recorded the biggest daily rise in confirmed coronavirus cases since January 22. on Thursday. In addition, France said it would put eight regions, including the Ile de France region around Paris, back into lockdown for a month to stop the disease's spread. Neverending story. 

Earlier in the day, the Bank of Japan’s Haruhiko Kuroda said that the board members believe it is appropriate to continue with the current policy framework. However, the yen strengthened slightly, sending the USDJPY pair to 108.70.  

Precious metals found some relief today and rallied, with gold jumping above 1,740 USD and silver crawling above 26 USD. 
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