Good morning, today is Tuesday, October 10th. The markets are opening positively in Europe with significant gains around 1:30. The intermediate market and the DAX are also showing increases. Meanwhile, the futures of the American markets, like the Nasdaq, are in slightly positive territory with a gain of 1016 points. This follows the positive closing of the American markets yesterday, which saw a turnaround during the day thanks to the intervention of Fed members Jefferson and Logan.
These Fed members reassured the markets by stating that bond yields, especially the 10-year yield that had reached 4.80%, are contributing to the Fed’s fight against inflation. They also indicated that there could be a rate hike in November, but this outlook had a positive effect on the markets. These members believe that the battle against inflation is moving in the right direction. As a result, the markets have shifted from a negative trend that dominated Monday morning due to geopolitical tensions in the Middle East to a positive trend, with indices in positive territory, including the Dow, S&P 500, and Nasdaq.
However, the Treasury market has opened lower, with an increase in the 10-year yields to 4.64%. This represents a significant decrease from the previous 4.99%, and the 10-year yield is now below 5%. Yields on two-year bonds are also down.
Optimism also prevails in the euro-dollar market, which is stable at 1.05, while oil prices, after rising by 4% yesterday due to Middle East tensions, remain slightly negative. There are no significant macroeconomic data today, but watch out for the PCE (Producer Price Index) and CPI (Consumer Price Index) data coming tomorrow and Thursday, respectively, which will be important for inflation.
Finally, before the market opens, the results of PepsiCo, a major beverage company in the United States, will be announced. We look forward to seeing how events unfold. Thank you for listening and paying attention.
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