Marketmind: Looming US 'X-Date' has global nerves on edge

Prominent bond investor Bill Gross says 1-month T-bills are a screaming “screaming” at current levels Buy” because history suggests deals will get done, even at the last minute. But what if this time is different? The broader market is feeling the heat. Wall Street and world stocks ended lower on Tuesday, with Asian shares excluding Japan posting their biggest losses in two weeks, while gold and the yen rose.

Here are three key developments that could provide more direction for Wednesday’s markets:

– Unemployment rate in South Korea (April)

– Korea Current Account (March)

– Japan Foreign Exchange Reserves (April)98

(Author: Jamie McGiver)