Spreadex Market Update
Fears that an improving U.S economy will result in bringing tapering forward
Asian shares outside of Japan have registered losses for the first time in 8 days as fears that an improving U.S economy will result in Fed policy makers bringing tapering forward. The MSCI Asia Pacific dropped 0.6% whilst Japanese shares were boosted by a lower yen. The Asia-Pacific equity index jumped 9.5 percent this year through yesterday amid signs the global economy is recovering. It traded at 14 times estimated earnings, the highest level since May.
Attention now turns to jobless claims and payrolls figures due later in the week, with four of five investors surveyed last month saying they expect Federal Reserve policy makers to put off cuts to their $85 billion-a-month in bond purchases until March 2014 or later.
Gold producers dropped after the bullion fell yesterday to the lowest close since June 27th and headed for its first annual decline in 13 years. With Australia and China’s top bullion producers shedding 6.7 percent and 2.2 percent respectively, we can expect to see miners weigh down the FTSE 100.
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