Wariness Engulfs Markets as Trump Optimism Tested: Markets Wrap
Buz Investors Trump Optimism Tested The yen strengthened and stocks signaled a muted start to a trading week that’s packed with speeches from Federal Reserve officials and data on China’s economy.Japan’s currency, trading at its strongest level since November, is set to weigh on shares in Tokyo. Skepticism is mounting on U.S. President Donald Trump’s ability to implement his economic agenda after last week’s failed U.S. health-care deal, with the dollar on the verge of erasing the rally spurred by his election victory. Equity-index futures point to a flat start for trading in Shanghai and Sydney, while Hang Seng contracts climbed. Reflation trades sparked by Trump’s
The yen strengthened, while Japanese and Australian stocks fell with S&P 500 Index futures. The dollar was on the verge of erasing the rally spurred by Trump’s election victory. Australian government bonds rose. Oil nudged higher as producers pledged to consider extending their pact limiting supply.
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Trump Optimism Tested
“Markets are likely to start the week in a cautious mode,” said Rodrigo Catril, a currency strategist at National Australia Bank Ltd. in Sydney. “This was the first major attempt by the administration to reform the government and its miserable failure exposes the limits of President Trump.”
Reflation trades sparked by Trump’s election are faltering in March, with the dollar retreating and the S&P 500 Index headed for its worst month since October. Meanwhile, emerging-market assets are climbing with the global equities gauge for developing nation’s on course for a third monthly gain in March.
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