Expectation is for a first move to 0.25% in March and three more to 1.0% by year-end
Sydney — Asian shares slipped on Monday as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the huge lake of liquidity that has supercharged growth stocks in recent years.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.7% and Japan's Nikkei 0.1%. Chinese blue chips added 0.4%, perhaps aided by the recent easing in policy by Beijing.But Wall Street futures bounced after last week's drubbing, with the S&P 500 futures up 0.7% and Nasdaq futures 0.8%. The prospect of higher borrowing costs and more attractive bond yields has taken a toll on tech stocks with their lofty valuations, leaving the Nasdaq down 12% so far this year and the S&P 500 nearly 8%.
However, Allen noted that even with the recent drop the S&P 500 was still 40% above where it ended 2019, and the Nasdaq 60%. Earnings season is also well under way and companies reporting this week include IBM, Microsoft, Johnson & Johnson, Tesla and Apple.While Treasuries did bounce late last week, 10-year yields are still up 22 basis points on the month so far at 1.77% and not far from levels last seen in early 2020.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lab monkeys escape after US road crash, one on the looseThe crash in Pennsylvania of a truck transporting 100 monkeys to a laboratory allowed four of them to escape, triggering a search by police.
Read more »
Tweeps slam MacG for 'crass' questions in interview with US star Ari LennoxMac G scooped his first international guest in Ari Lennox but tweeps felt he fumbled the bag with his crassness.
Read more »
US airlines hopeful for post-Omicron 2022 after Q4 lossesMajor US carriers stumbled through another money-losing quarter at the end of the 2021 but remain confident of a travel recovery later in 2022.
Read more »
No evacuation of US citizens in Ukraine yet, says state deptThe White House has said Moscow could launch an offensive against the former Soviet republic 'at any point.'
Read more »
OPINIONISTA: Australian Open reminds us that sport moves on easily even without stars like DjokovicThe world didn’t end. Tennis didn’t stop. The season’s first Grand Slam did not collapse in on itself like a planet being drawn into a sporting black hole because the men’s No 1 tennis player failed to make it to the starting line at the Australian Open.
Read more »
HYWEL GEORGE: Fasten your seat belts as technology blasts us into the futureConverging of exponentially growing modalities will create fastest change yet
Read more »