European Stocks Turn Positive as Oil Prices Slide
The Stoxx 600 reversed from a loss of as much as 0.8% to a 0.1% gain in afternoon trade. The report says falling oil prices encouraged investors back to risk.
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The Stoxx 600 reversed from a loss of as much as 0.8% to a 0.1% gain in afternoon trade. The report says falling oil prices encouraged investors back to risk.
Most Asian currencies were little changed against the dollar as investors waited for U.S. data, including the University of Michigan preliminary consumer sentiment reading. Traders were also watching Treasury yields and comments from Federal Reserve officials for clues on the policy outlook.
Japanese government bond yields fell across the curve after overnight declines in U.S. Treasury yields. The 10-year JGB yield was down 4.5 basis points at 3.035%, while the 2-year and 30-year yields were lower as well.
French government bonds are being sold off relative to German Bunds. Traders cited France’s debt load, budget deficit, bond supply and political uncertainty ahead of the presidential election.
Bitcoin and other major cryptocurrencies fell in risk-off trade as volumes rose and long positions were liquidated, according to Coinglass. Bitcoin dropped 2.7% to $81,151, while ethereum fell 4.9% and XRP slid 5%.
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