There was pressure on European equities, but especially on Nasdaq-100 futures contracts, as Treasury yields began to climb again.
The Stoxx Europe 600 Index SXXP,
dropped 0.5% to 423.13 after a four-session winning streak. The German DAX DAX,
decreased by 0.3%, while the French CAC 40 PX1,
and FTSE 100 indices UKX,
was flat. The euro EURUSD,
and GBPUSD,
against the dollar DXY case,
which strengthened across the board.
A well-known scenario was emerging for investors, with the Nasdaq-100 futures NQ00,
decreases more than 1% over the yield on the US Treasury TMUBMUSD10Y for ten years,
rose 6 basis points to 1.58%, a day after falling below 1.5% for the first time in a week. Dow futures YM00,
baptized and S&P 500 futures ES00,
0.5% decreased.
European and US equities climbed on Thursday after President Joe Biden signed a $ 1.9 billion stimulus bill, and the European Central Bank said it would speed up its plan to buy bonds as it pandemic on economies will fight.
Read: The ECB just fell back against the rising bonds, catching traders off guard
While the ECB’s position on Thursday spurred gains for the region’s bonds, assets were under some pressure again on Friday. The German government bond yield of ten years TMBMKDE-10Y,
rose 2 basis points to negative 0.308%. The proceeds of the 10-year British gilded TMBMKGB-10Y,
increased 4 basis points to 0.781%. Yields move in the opposite direction of prices.
The data showed that the UK economy shrank by 2.9% in January, led by weakness through the services sector amid closures and when the new Brexit trade arrangements hit exports, the Office for National Statistics said on Friday.
Among moving stocks, technical weakness appeared in Europe, with shares of ASML Holding ASML,
ASML,
and STMicroelectronics STM,
STM,
each at least 1% lower.
Burberry BRBY,
Shares rose 7% after the luxury goods group forecast fiscal revenue of 2021 and adjusted operating profit to exceed expectations.