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Germanys DAX index rose by about 0.7%, hitting a record high. A German government spokesman said earlier that German Chancellor Merz and Trump agreed on the need to quickly resolve the trade dispute during a phone call.Germanys DAX30 index opened up 131.20 points, or 0.56%, at 23480.50 points on May 9 (Friday); Britains FTSE 100 index opened up 39.42 points, or 0.46%, at 8571.03 points on May 9 (Friday); Frances CAC40 index opened up 38.04 points, or 0.49%, at 7732.48 points on May 9 (Friday); Europes STOXX 50 index opened up 14.01 points, or 0.26%, at 5302.95 points on May 9 (Friday); Spains IBEX35 index opened up 26.36 points, or 0.20%, at 13504.06 points on May 9 (Friday); Italys FTSE MIB index opened up 242.70 points, or 0.62%, at 39217.00 points on May 9 (Friday).Bank of America: U.S. stocks saw $9.3 billion in outflows in the week ending Wednesday, and the four-week cumulative outflow was the largest since May 2023.Switzerlands consumer confidence index in April was -43, expected to be -33, and the previous value was -34.8.May 9th, the U.S.-UK trade deal initially prompted optimism that deals with other countries might follow. However, analysts say the initial positive impact on the market is fading because the agreement is limited in scope and 10% tariffs remain in place in most cases. "The agreement (or rather its lack of an agreement) is not very significant and does not necessarily give the impression that more substantial results are expected in negotiations with other countries," said Volkmar Baur, an analyst at Commerzbank, in a report.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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