57 minutes agoThank you for reading this post, don't forget to subscribe!
German producer prices hit the biggest drop on record
German producer prices fell by the most year-on-year in September, boosting concerns that inflation is slowing in Europe’s biggest economy. Producer price records from the Federal Statistics Office date back to 1949.
Producer prices of industrial products fell 14.7% in September from a year earlier, a steeper decline than the 12.6% decline in August.
The decline in prices is mainly due to the base effect leading to higher price levels in 2022 as a result of the war in Ukraine.
2 hours ago
European markets open at seven-month low due to faltering global sentiment
European equity markets opened at a seven-month low on Friday, Reuters data showed, as investors digested US comments and a slide in global sentiment.
The pan-European Stoxx 600 index opened down 0.7%, with most sectors in negative territory. Mining stocks saw the biggest declines, falling 1.5%, followed by household goods, which fell 1.3%. Oil and gas reversed the trend with a gain of 0.2%.
8 hours ago
US 10-year Treasury yield crosses 5% for first time since 2007
The yield on the benchmark US 10-year Treasury surpassed 5% for the first time in 16 years.
The 10-year Treasury yield hit 5.001% at 5:02 p.m. ET, the first time it has traded above that key level since July 20, 2007 when its yield was 5.029%.
– Gina Francola, Christine Wang
7 hours ago
CNBC Pro: Should you lock in those high yields now? Here’s what Wall Street is saying, and how to invest
4 hours ago
European markets: here are the early calls
According to IG data, European stock markets are going to open with a decline on Friday. Britain’s FTSE shows a decline of 28 points 7,477 and Germany’s DAX rose 79 points to 14,958. France’s CAC is set to fall 45 points to 6,873 and Italy’s MIB is set to fall 226 points to 27,471.