GMBStaff
14 Nov 23
Stock index futures were lower Monday following a second-straight weekly gain for the broader market. S&P futures, Nasdaq 100 futures, and Dow futures were down. The 10-year Treasury yield rose 1 basis point to 4.64% and the 2-year yield was flat at 5.06%. UBS chief economist Paul Donovan wrote that...
Stock index futures were lower Monday following a second-straight weekly gain for the broader market. S&P futures, Nasdaq 100 futures, and Dow futures were down. The 10-year Treasury yield rose 1 basis point to 4.64% and the 2-year yield was flat at 5.06%. UBS chief economist Paul Donovan wrote that the economic outlook is more or less well behaved and that economic soft landings seem on track, with slowing growth and inflation pressures moderating a little faster than expected. He also mentioned that real wages have been bad on both sides of the Atlantic and that a US government shutdown looms. One of the credit rating agencies put the US credit outlook on negative watch last week.
This continued economic optimism is reflected in the sustained market gains, with hope for economic soft landings due to expected slowing growth and the mild dilation of inflation pressures. UBS chief economist Paul Donovan expressed confidence in an outlook that reflects perceptions of economic well-being despite looming political struggles and potential government shutdowns. Markets are anticipated to remain relatively unfazed by these political events due to expectations of steady progress forwards.