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European Interest Rate and Oil Price Adjustment Continue Ahead of US/Canada Jobs Report
Better earnings from Amazon, Pinterest, and Snap lifted US tech after th dramatic loss on Wall Street yesterday. Most Asia Pacific bourses rose, led by the 3.75% rally as Hong Kong re-opened. India and New Zealand were exceptions and slipped lower. Real estate and industrials are dragging the Stoxx 600 in Europe lower (~-0.75%). This is sufficient to offset the week's earlier gains and threatens to extend the losing streak for a fifth consecutive week. US futures are firm. The adjustment in rates continues. Japan's 10-year is approaching the upper end of the range permitted under yield-curve control (0.25%). The fx ... (full story)