UBS Head of Credit Strategy Matthew Mish believes a red sweep in the upcoming elections would be beneficial for credit spreads, indicating a positive outlook overall. Meanwhile, CreditSights Global Head of Strategy Winnie Cisar advises investors to look beyond the election noise. They shared these insights during an interview with Sonali Basak on "Bloomberg Real Yield."
Investors who have been hedging against a possible drop in US Treasuries are bracing for market volatility. This comes as they await the upcoming US employment report, influenced by hurricanes and strikes, which will provide crucial insights before next week’s Federal Reserve policy decision.
Gold prices rebounded after experiencing their largest one-day drop since July. Traders are closely monitoring the upcoming US jobs data while also considering potential market disruptions as the presidential election approaches.
Japanese stocks declined after the yen gained 1% against the dollar overnight, following comments from Bank of Japan Governor Kazuo Ueda. Investor caution ahead of the upcoming US presidential election also contributed to the market’s downturn.
Asian tech stocks have dropped, pulling down equity markets across the region. This trend is adding to the selling pressure on Wall Street, particularly affecting major Silicon Valley firms. Meanwhile, currency and bond markets remain steady as investors await US jobs data set to be released later today.
Emerging-market assets faced a rocky October, marked by increased volatility. Rising global yields and a stronger dollar pressured these markets as investors quickly adjusted their risk assessments ahead of the upcoming US election.
The yen strengthened against the dollar, rising up to 1% as investors reacted to comments from Bank of Japan Governor Kazuo Ueda. He indicated that interest rates could be increased in the coming months, boosting confidence in the currency.
Wall Street traders were looking for a clear direction on stocks after Thursday's selloff, but late trading offered no clarity. Earnings reports from two major tech companies came in mixed, leaving investors uncertain about the market's next move. As a result, stocks struggled to find a steady path forward.
Korea Zinc Co. shares fell 30% on Wednesday, losing $7 billion in market value. This drop came after the company's chairman announced plans for a heavily discounted share issue, surprising investors and adding another chapter to the ongoing battle for control over the company.
Goldman Sachs Group Inc. has assessed that global investors are overestimating the risks of financial market instability following the upcoming U.S. presidential election. They believe concerns about uncertainty due to the lack of a clear winner are exaggerated.
