The major European indices are ending the week on a sour note with big declines on the day. For the week the indices are also lower.
Looking at the provisional closes:
For the week, the indices are all in the red:
A look around the markets as London/European traders look to exit shows:
in the US stock market, the major indices are down sharply with the Dow industrial average leading the way.
In the US debt market, the yields are mixed with a flatter yield curve as traders exit the shorter end (pushing up yields on Fed hikes sooner than expected). The longer and is down as the market prepares for the economy slowing because of the Fed hikes.
In the European equity market, the benchmark 10 year yields are mixed with flight to safety flows into the German, France, UK debt (yields lower), and flights out of risk in the Spain, Italy, and Portugal notes (yields higher):
The USD remains the strongest of the major currencies (and moving higher) followed closely by the JPY. Fed’s Bullard’s comments have been the big catalyst for a higher dollar (more hawkish in his interview on CNBC). The NZD is the weakest followed by the other commodity currencies including CAD and AUD.