Stocks, US futures rise as bond selloff abates

Stocks, US futures rise as bond selloff abates

Stocks















Bloomberg

Stocks and the US index futures rise on Wednesday and a selloff in sovereign bonds paused, bringing some relief for markets whipsawed in recent weeks by concerns about tightening monetary policy.

The Stoxx Europe 600 index rises more than 1% as technology shares bounced back and a raft of generally positive earnings reports lifted sentiment. Adyen NV jumped more than 11% after the Dutch online-payments company reported second-half revenue growth that met analysts’ estimates. Amundi SA, Europe’s largest asset manager, climbed the most in a year after raking in more client cash than analysts’ expectations. Basic-resources stocks underperformed as iron ore tumbled.

Futures on the S&P 500 and Nasdaq 100 advanced. The 10-year US Treasury yield retreated from levels last seen in 2019, and yields across Europe also falls after France’s central banker said markets may be getting ahead of themselves in pricing rate hikes for this year. A dollar gauge was steady.

An Asia-Pacific share gauge added more than 1% to its highest in about two weeks, helped by Japan and a rally in a Hong Kong technology index.

Meanwhile, the Bank of Japan chose not to deviate