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Free AccessEquity markets worsen further in early.....>
EQUITIES: Equity markets worsen further in early US cash trade, leaving many
scratching their heads over catalysts for the sell-off. Cash equity markets are
lower across the board, with NASDAQ and tech stocks underperforming in
particular, prompting some to point to Apple's new iPhone event due later today
(AAPL down 0.8-0.9% in early trade). The E-mini S&P now trades close to 50-dma
support at 2948.88.
-Others have pointed to headlines flashing that the US have set tariff schedules
for Chinese ceramic tile imports - although the timings don't match the market
sell-off and the schedule is likely part of pre-announced tariff measures.
-The US curve is flattening in response, with the 2s30s curve flatter by just
shy of 2bps. This has sapped some strength out of USD/JPY, which tests the
50-dma at Y107.15.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.