Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Islamophobia_$type=carousel$h=350$show=/search/label/Muslim%20World

Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Iran_$type=three$count=3$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Palestine$type=three$author=hide$comment=hide$rm=hide$date=hide$show=/search/label/Muslim%20World

Investors flee stocks for bonds, gold as U.S. tax cut hopes fade

SHARE:

LONDON - World stocks were set for a second day of losses on Friday after an exodus of U.S. executives from presidential business councils dealt a fresh blow to hopes of tax reform, hammering Wall Street and filtering through to Asia and Europe.

Investors fled instead into German and U.S. Treasury bonds and bought gold for the third day in a row, as the appeal of such top-notch assets grew further due to a deadly attack that killed at least 13 people in Barcelona.

Markets have been dismayed by U.S. President Donald Trump's latest controversial comments on violence that flared in Charlottesville, Virginia, after a white nationalist protest.

Several business leaders have since resigned from his advisory councils and a White House official said plans for a council on infrastructure had been dropped.

These events, which also alienated some of Trump's Republican allies, have dashed hopes for tax cuts and infrastructure spending, campaign promises that fueled much of this year's gains in world stocks, emerging markets and commodities.

Equities worldwide are still on track to end the week in the black as fears ebbed earlier in the week that the United States and North Korea were headed for a nuclear standoff.


But with New York's equity indexes all tumbling on Thursday to multi-week lows, MSCI's index of Asian shares outside Japan fell 0.6 percent .MIAPJ0000PUS on Friday, emerging stocks lost half a percent and MSCI's world index .MIWD00000PUS, which tracks shares in 46 countries, slipped 0.3 percent to one-week lows .MIWD00000PUS.

"In a week where we started by worrying about nuclear war, markets have quickly moved on from this, with yesterday's weak session more of a response to fears that Mr Trump's strategy for the economy and business is falling apart and later the terrible terrorist attack in Barcelona," Jim Reid, a strategist at Deutsche Bank, told clients in a note.

The pan-European STOXX 600 index opened 0.9 percent lower. Losses were led by travel and leisure .SXTP as investors reacted to the Barcelona attack by selling shares in airlines such as Ryanair, EasyJet and Spanish airport firm AENA.

U.S. equity futures signaled a weaker opening on Wall Street too 1YMc1 ESc1 NQc1.

Equity weakness is heaping more pressure on the dollar, pushing it down 0.5 percent against the yen, the lowest in a week and approaching one-year lows of 108.13 yen hit in April.

ING Bank analysts predicted the dollar would remain pinned near current levels, at the expense of the yen.

"Tail risks such as geopolitics, protectionism and the unwind of easy central bank money all provide valid reasons to remain cautious in chasing risk," they told clients.

"Dollar/yen continues to capture this nervousness and could move down towards the 109.00 level."

The euro edged up 0.2 percent to the dollar, after tumbling on Thursday to a three-week low of $1.1662 after minutes of the European Central Bank's July 20 policy meeting showed the bank was worried about the currency rising too much.

ING saw the ECB's euro concerns as justified and expects the bank to proceed cautiously while unwinding stimulus, in turn limiting the upside to European bond yields.

Yields have fallen in recent days following the ECB comments and amid the dash for defensive assets, with 10-year Bunds at a one-week low of 0.41 percent while 10-year Treasuries traded just off one-week lows hit on Thursday DE10YT=TWEB US10YT=RR.

The turmoil also benefited gold, with spot prices for the metal rising 0.4 percent to the highest in more than two months XAU= and on track for its second week of gains.

Brent crude futures rose 0.35 percent, rising off three-week lows hit on Thursday as the dollar continued to weaken and signs appeared that supply is becoming tighter in the world's biggest energy consumer, the United States.

COMMENTS

Name

Ads,5,Afghanistan,56,Africa,8,Animals,36,Asia,68,Australia,5,Bahrain,2,Bangladesh,7,Barcelona,1,Belgium,1,Business,972,China,96,Egypt,20,Europe,88,Fitness,14,France,8,Germany,11,Headlines,11,Health,163,Iceland,1,India,93,Indonesia,8,International,75,Iran,62,Iraq,55,Islamophobia,18,Israel,5,Italy,1,Japan,8,Kenya,2,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,298,Lithuania,1,Malaysia,6,Maxico,2,Middle East,58,Muslim World,495,Myanmar,13,Nawaz Sharif,5,Nepal,2,New Zealand,4,Nigeria,1,North Korea,24,Norway,1,Opinion,26,Pakistan,993,Palestine,33,Philippine,4,Pics,66,Poland,1,Popular,1,Qatar,92,Russia,13,Saudi Arabia,69,Science,135,Showbiz,320,South Korea,1,Spain,10,Sports,1148,Sudan,1,Switzerland,1,Syria,82,Technology,359,Top News,922,Tunisia,1,Turkey,55,U.S.,122,UAE,19,UK,19,Ukrain,1,Videos,75,World,4187,Yemen,19,
ltr
item
Muslim Global: Investors flee stocks for bonds, gold as U.S. tax cut hopes fade
Investors flee stocks for bonds, gold as U.S. tax cut hopes fade
https://2.bp.blogspot.com/-vGT2mDzNrPY/WZa-kaafiCI/AAAAAAAAct4/myUxgIXXFzEt1j5EGNz_3Xh7Zfn6PMk6QCLcBGAs/s640/Traders%2Bwork%2Bin%2Bfront%2Bof%2Bthe%2BGerman%2Bshare%2Bprice%2Bindex%252C%2BDAX%2Bboard.jpg
https://2.bp.blogspot.com/-vGT2mDzNrPY/WZa-kaafiCI/AAAAAAAAct4/myUxgIXXFzEt1j5EGNz_3Xh7Zfn6PMk6QCLcBGAs/s72-c/Traders%2Bwork%2Bin%2Bfront%2Bof%2Bthe%2BGerman%2Bshare%2Bprice%2Bindex%252C%2BDAX%2Bboard.jpg
Muslim Global
http://www.muslimglobal.com/2017/08/investors-flee-stocks-for-bonds-gold-as.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2017/08/investors-flee-stocks-for-bonds-gold-as.html
true
616431133175714168
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy