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Wealth Daily 05 July 2022

WEALTH DAILY 2022-07-05
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US financial markets were closed on Mon to celebrate the Fourth of Jul holiday. US equity index futures are pointing to a higher opening when Wall Street reopens for regular trading later today. At the time of this writing, S&P 500 Index futures are up more than half a percent. 

Investors in Asia are in a positive frame of mind today (Tue) after Dow Jones reported the Biden administration could announce as soon as this week that it scrapping some Trump-era tariffs on Chinese consumer goods. 

On Mon, European equity markets finished mixed. The UK FTSE gained 0.89%, France's CAC 40 rose 0.4%, while the German DAX retreated 0.31%. 

US Treasuries fell after reopening from a holiday. The 10-year US Treasury yields are up about 7 basis points (bps) to 2.97% in early trade Tue.  The front-month Brent futures closed up $1.87 at US$113.50/bbl on Mon. 

On Tue, the ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, traded nearly flat at 105.206, at the time of writing. 

Credit Suisse (CSGN SW, +2.29%) is cutting more than two dozen frontline roles at the investment bank in Asia as it “grapples with losses and a weakening outlook for the global economy,” according to Bloomberg.

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