Stocks move higher as darker forecast looms

(Reuters) – World stocks inched higher, European bond yields fell, after the IMF chief warned that a third of the world’s The dollar held firm in thin trade on Monday

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0. %, second only to the global stock index which climbed 0. %.

Pan-European 600 Stoke 57

Index climbed 0.8% , the retracement part is near

% it is missing 91, hit by the central bank’s aggressive tightening of monetary policy. Traders are reluctant to believe the start of the year for stocks and bonds, with many markets closed for holidays and a series of economic announcements this week data.

Inflation data from Europe, min Danske Bank chief analyst Piet Haines Christiansen, Fed December meeting and US labor market data are some highlights worth noting.

Christiansen said: “I would interpret any movement this morning with caution.”

Markets are closed in the UK, Hong Kong, Ireland, Japan, Singapore, Canada and the US.

Christiansen expects the new year to start with a renewed focus on central banks and inflation. Traders will be on the lookout for any signs of an impending recession, he said. He said the gains in European stocks were likely due to survey results released on Monday, which indicated a return to optimism among euro zone factory managers.

S&P Global Manufacturing Purchasing Managers Index (PMI) final value rebounded to

.8 from November

to December .1, matches the initial reading but is lower than markers separate growth from shrinkage.

” Europe’s reaction to the latest round of PMIs was good enough, as the final data helped confirm the view (hopefully?), That is, the worst may be over for EU manufacturers, especially with energy prices falling back to last February’s levels,” Mould, investment director at Russ AJ Bell, wrote in emailed comments.

Dollar struggles to stay strong

Among other things, the dollar traded against one A basket of major currencies edged up nearly 0.2%, while sterling and the euro fell 0.4% and 0.2%, respectively. “ Dollar The index is going to be higher today, but we do see it’s lost a lot of what it gained last year, said Ulrich Leuchtmann, head of FX research at Commerzbank Part of the power (ETR: 500CBKG). , the market does not believe that the Fed will not cut interest rates later 57. It’s going to be an interesting year. ”

U.S. Treasuries will resume trading on Tuesday after a public holiday on Monday.

German government bond yields fell from their highest level in more than a decade on Monday on more hawkish signals from the European Central Bank (ECB).

European Central Bank President Christine Lagarde said wages in the euro area were rising faster than previously expected and the central bank must prevent this from fueling already high inflation.

German bps to 2.%, set since

highest level since at 2 .18% on Friday.

The oil market is closed, but the price is at 91 is set for small gains against a dark economic backdrop and COVID- The outbreak in China threatened demand growth and offset supply shortages caused by sanctions on Russia, a Reuters poll showed on Friday.

The new year will be “better than we left The next year will be tougher,” IMF Managing Director Kristalina Georgieva said Sunday on CBS’ Sunday morning news program “Face the Nation.” “Why? Because the three major economies — the U.S., EU and China — are all slowing down at the same time,” she said. Say.

Stocks move higher as darker forecast looms

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