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21 Apr 2022

U.S. Futures Climb on Earnings even as Bonds turn Bearish

The Index Today

U.S. stock-index futures edged higher spurred by earnings season, easing concerns of a possible recession in the country.

According to Bloomberg News, the June contracts for the S&P 500 and Nasdaq indexes rose by at least 0.7% each, with initial reports projecting four out of five companies exceeding expectations. The 10-year U.S. Treasury yields gained 4 basis points while German bond yields and the euro inched up following the European Central Bank’s (ECB) hawkish stance.

Bonds have turned bearish due to mounting fears over soaring inflation and the resulting interest rate hikes by the U.S. Federal Reserve. However, even as the inflation narrative advances, world central banks are not likely to cease instituting interest rate hikes as the Ukraine-Russia crisis continues to send commodity costs skyrocketing, reported Bloomberg News.

Investors are currently anticipating a panel discussion at an IMF event comprising Fed Chair Jerome Powell and ECB President Christine Lagarde, which will offer hints on the central banks’ take on inflation and subsequent rate hikes.

©Photo: Reuters

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