11th Feb 2022. 7.22am
Regency View:
Morning Report – Friday 11th February
FTSE to open at 7,611 (-61 pts)
The yield on 10yr Treasury notes hit their highest level since August 2019 as US inflation remains stubbornly strong…
The Bureau of Labor Statistics reported that the US consumer price index had risen 7.5% in January from a year earlier, the fastest pace of US inflation in 40 years.
Stocks on Wall Street dropped in response to the data, with anticipation growing of continued aggressive tightening from the Fed.
Overnight in Asia, stocks have been mixed with the Hang Seng in negative territory while the Nikkei 225 is positive on the day.
| S&P 500 | -1.81% | Bearish for UK stocks |
| Hang Seng | -0.51% | Bearish for UK stocks |
| Gold | -0.18% | Neutral for UK stocks |
| AUD/JPY | -0.57% | Bearish for UK stocks |
| US 10yr Yield | +97pts | Bearish for UK stocks |
Yesterday’s price action saw the FTSE reverse at the Jan 2020 highs and close back below the early Jan 2022 highs.
Mild selling pressure has continued overnight, but the futures are starting to bounce from lows as we head towards the opening bell.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| British American Tobacco (BATS) |
| UK Economic Announcements |
| 07:00 Gross Domestic Product |
| 07:00 Industrial Production |
| International Economic Announcements |
| 07:00 Harmonized Index of Consumer Prices |
| 15:00 Michigan Consumer Sentiment Index (Feb) |
| 16:00 Fed Monetary Policy Report |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.