Issue link: https://maltatoday.uberflip.com/i/1456665
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 3.3.2022 7 MARKETS International Markets Global Indices Trading Date: 2 March 2022 Euro zone bonds stabilise after slashing ECB rate hike bets EURO zone bond markets stabilised on Wednesday after a dramatic repricing a day earlier, when traders slashed their bets on ECB rate hikes this year, coming to terms with the economic implications of Russia's invasion of Ukraine. Euro zone money markets are now pricing in less than 20 basis points (bps) of rate hikes from the European Central Bank by December and price a first 10 bps hike by October. At Wednesday's session open they initially reduced bets even further to price in less than 15 bps of hikes by Decem- ber and had also pushed the first fully-priced 10 bps hike to then. at is a dramatic move and compares to over 30 bps of hikes priced by December at the start of the week and 40 bps before Russia's invasion of Ukraine last week, when all focus was on steps the ECB would have to take to curb re- cord high inflation. Now, several policymakers argue the bank should tread more cautiously given the uncertainty stemming from the conflict. e scale of the repricing brought about a sharp fall in euro zone bond yields on Tuesday and Germany's 10-year yield, the benchmark for the bloc, dropped 23 bps in its biggest daily fall since 2011. Bond yields move inversely with prices. On Wednesday, markets showed signs of stabilisation and Germany's 10-year yield was up nearly 3 bps to -0.04% by 0834 GMT. Italy's 10-year yield, which dropped over 30 bps on Tues- day, was up 6 bps to 1.49%. at widened the closely watched risk premium it pays over German debt to 152 bps from the 145 bps it fell to on Tuesday, as Italian debt, among the biggest beneficiaries of ECB stimulus, outperformed. "Market positioning is now likely to be more balanced, with less shorts remaining to be covered, and given the pace of the repricing we expect some will fancy tactically looking for some retracement today," Mizuho analysts told clients. However, the ECB is expected to look through the addi- tional rise in inflation due to the Ukraine crisis and high- er-than expected readings from Spain, Italy and Germany this week did little to stop the repricing of rate hike bets. In the primary market, Germany will re-open its green bond due 2030 at auction, targetting 1.5 billion euros ($1.7 billion).