(CercleFinance.com) – Wall Street should start to rise again on Friday morning against a backdrop of easing bond yields, even if fears surrounding tensions on rates are far from having disappeared.
Half an hour before the opening, the ‘futures’ on the main New York indices advanced from 0.1% to 0.6%, announcing a green start to the session.
American stock markets ended on a weak note Thursday evening following a sudden rise in bond yields, suffered in a climate of uncertainty around Fed rates.
But the Bank of Japan left its rates unchanged this Friday and maintained its ultra-accommodating monetary policy, denying speculation that there was a tightening to counteract the weakness of the yen.
This announcement brings down benchmark sovereign yields and allows stocks to breathe a little.
After its sharp rise the day before, which saw it flirt with the threshold of 4.50%, the yield on ten-year American Treasuries fell by almost two basis points, to around 4.46%.
Technology stocks such as Apple, Alphabet and Amazon, very sensitive to interest rates due to their valuations considered high, should take the opportunity to rebound after having experienced a difficult session yesterday.
In the context of fears of high rates for longer than expected, investors will be very attentive – in the morning – to the monthly PMI survey which should confirm the good resilience of the American economy.
On the energy market, Texan crude prices are increasing towards $90.5 per barrel, while preparing to end the week with losses due to concerns surrounding the economic situation.
At this stage of the week, the S&P 500 – the benchmark index for American managers – is down around 2.7%, which would make it its worst weekly decline in just over a year.
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