[서울=뉴스핌] Reporter Kim Sun-mi = The global stock market is showing a limited rise on the 10th after the sharp rebound in US technology stocks the day before. However, the yield on Treasury bonds, which retreated the previous day ahead of the US Treasury Bond bidding this week, is rising again.
Last night, Tesla (NASDAQ: TSLA) rebounded 20%, and technology stocks such as Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MS) recorded the largest daily rise in one month, raising the US Nasdaq stock index by 4%. .
Following this momentum, Asian stocks rebounded from their lows in two months, and Germany’s DAX index at the beginning of the European stocks reached an all-time high.
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However, prior to this week’s US government bond bidding, inflation indicators, and the European Central Bank (ECB) meeting, government bond yields and the US dollar are rising again.
Mikhail Zverev, head of global stocks at Aviva Investors, said, “The violent rebound of large US tech stocks the previous day is an example of how fragile the stock market dominated by large passive funds.”
“The wind is blowing harder now, and the market is becoming a more dangerous place,” he warned. “Slight rise in interest rates will not cause a natural disaster, but the collective sentiment towards a great transformation is working.”
“These major shifts happen more often, faster and more inefficiently, leaving the market vulnerable to rapid volatility.”
Following the successful completion of the U.S. 3-year Treasury bill the day before, market uncertainty is resurfacing ahead of bidding for 10-year and 30-year bonds.
Nomura Securities’ senior interest rate strategist Koshimizu Naokaju said, “The government bond market has found some stability, but the pressure to increase the yield continues.” “It is not reflecting the turn to tightening,” he warned.
In addition, concerns over the US economy overheating and accelerating inflation are intensifying ahead of the Joe Biden administration’s implementation of the $1.9 trillion in economic stimulus.
In the foreign exchange market, the US dollar is under upward pressure in anticipation of accelerating the US economic recovery, and is rising against the euro, yen, and Australian dollar.
In the commodity market, international oil prices, which have risen by 30% this year, are being traded unchanged. Concerns about supply disruption arising from the attack on Saudi Arabia’s oil facilities almost disappeared.