DAX Futures Update : 02 Jan. 2023

The DAX Futures is trading at 13,934.0 with +0.04% percent +6.0 point. The FTSE 100 Futures is trading at 7,452.50 with a loss of -0.66% percent or -49.50 point. The CAC 40 Futures is trading at 6,465.50 with a loss of -1.63% percent or -107.00 point. The EURO Stoxx 50 Futures trading at 3,796.00 up with  +0.03% percent or +1.00 point.

TODAY’S FACTORS AND EVENTS

Germany’s benchmark 10-year Bund yield was at 2.5% at the end of 2022, close to its highest level since July of 2011, and up from about -0.1% at the beginning of the year amid fears of a severe global recession as major central banks are set to tighten monetary policy further in 2023. Yields have been also supported by expectations of increasing government funding and falling excess liquidity, as Germany’s government boosts public spending to fight the adverse impact of the energy crisis. The European Central Bank pledged further rate hikes to fight inflation and announced it would start reducing its €5 trillion bond holdings from March, with President Lagarde saying the central bank would need to deliver “significant” rate increases at a steady pace. Elsewhere, the Fed said it would continue its monetary policy tightening campaign, even if data points to a weakening economy, while the Bank of Japan said it would loosen some of its strict controls over long-term interest rates.

YESTERDAY ACTIVITY

For the day Germany’s DAX closed at 13,923.59 with a loss of -1.05% percent or ?148.13 point.the FTSE 100 closed at 7,451.74 with a loss of -0.81% percent or -60.98  point. France’s CAC 40 closed at 6,473.76 with  a loss of -1.52% percent or -99.71 point.

WORLD MARKETS