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US stock futures create China trade optimism: markets collapse



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US. Stock futures rose against European equities, while Asian stocks declined that China would not immediately retaliate against the recent American pay rise. Government bonds slipped while one dollar was close to a nine-month high.

S & P 500 contracts rose alongside the Stoxx Europe 600 index after spokesman for the Chinese Ministry of Commerce said that a trade-off escalation was not beneficial for both sides It was more important to discuss the elimination of additional duties. Shares across Asia yielded to the comments. In Europe, Italy's bonds rose and stocks outperformed as the country moved toward the formation of a new government. The Chinese mainland yuan rose for the first time in eleven sessions, while the pound contributed to the decline on Wednesday as the risk of a Brexit widened without a deal.

Market sentiment is continuing to maintain a buoyant optimism for a solution following President Donald Trump's recent announcements about the trade and attempts of investors. China's recent comments follow those of Finance Minister Steven Mnuchin, who said US trade officials expect Chinese negotiators to visit Washington, even though he would not say if a previously scheduled September meeting would take place. The White House Trade Adviser, Peter Navarro, downplayed a quick fix.

Meanwhile, the bond rally continued after the 30-year US Treasury yield dropped to a record low of 1.9039% on Wednesday. Mnuchin said the issuance of ultra-long US bonds was "very serious" in the Trump administration, which could potentially mean a historic renewal of the $ 16 trillion government bond market.

Events Watching This Week:

The second reading of US GDP for the second quarter on Thursday is expected to spell out estimates for slightly lower economic growth. The Bank's decision and briefing on Korean policy will be made on Friday. Eurozone CPI data for August is also due on Friday.

Here The Most Important Movements in the Markets:

Stocks

The futures on the S & P 500 Index rose 0.9% from 6:19 am New York time. The Stoxx Europe 600 Index rose 1.1%. The Shanghai Composite Index fell 0.1% MSCI Emerging Market Index rose 0.1%.

Currencies

The Bloomberg Dollar Spot Index barely changed. The euro remained stable at $ 1.1077. The British pound fell 0.1% to $ 1.2201. Onshore yuan up 0.2% to $ 7.15 The Japanese yen lost 0.1% to hit 106.21 per dollar.

Bonds

Ten-year government bond yields rose by one basis point to 1.49%. Two-year government bond yields rose two basis points to 1.52%. Germany's ten-year yield rose by one basis point to -0.71% .Britain's 10-year yield fell less than one basis point to 0.44%. Japan's 10-year yield fell one basis point to -0.285%.

Commodities

West Texas Intermediate crude rose 0.5% to $ 56.05 a barrel. Iron ore fell 1.1% to $ 80.50 a ton. Gold rose 0.1% to $ 1,540.22 per ounce.

– With support from Min Jeong Lee and Andreea Papuc.

Contacting the reporter on this story: Yakob Peterseil in London at ypeterseil@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Todd White

More articles of this species can be found at bloomberg.com

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