Global Market Trends (4th Oct., 2021)

The Federal Reserve concluded a two-day meeting on Wednesday, announcing it would begin reducing the pace of its Treasury purchases by $10 million and mortgage-backed securities by $5 billion. The market expects the first rate hike to occur in July 2022. Following the Fed's decision, the yield on the 10-year note closed up 3 basis points to 1.58% 

Economic data, the ADP Employment report showed private-sector payrolls added 571,000 workers in October, exceeding the 400,000 new jobs that analysts surveyed by Refinitiv were expecting. The October nonfarm payroll report is due out Friday. 

Deere & Co. workers rejected a contract offer, continuing a three-week-old strike. The latest offer would’ve raised wages by 10% this year and 5% in 2023 and 2025 in addition to giving lump-sum bonuses in 2022, 2024, and 2026.   

Commodities, West Texas Intermediate crude oil fell $3.05 to $80.86 a barrel and gold slid $25.10 to $1,763.60 an ounce.  

European bourses trading outcome yesterday was mixed with France’s CAC 40 adding 0.34% and Germany’s DAX 30 edging up 0.03% while Britain’s FTSE 100 declined 0.36%. 

Asia indexes had a declined position with China’s Shanghai Composite index slipping 0.2% and Hong Kong’s Hang Seng index lost 0.3%. Japan’s Nikkei 225 was closed for holiday. 













SOURCE: CNBC
IMAGE SOURCE: PIXABAY