Futures on the Euro Stoxx 50 – the index that groups Europe’s 50 largest companies – is up 0.2% pre-opening on Wednesday, pointing to a slightly bullish start to the session on a day when the new $3 trillion budget package in the United States will be unveiled.
On Wall Street, S&P 500 futures are trading at the waterline after a mixed session on the Asian continent, with gains in South Korea but losses in China and Japan.
The collapse of Bill Hwang’s Archegos Capital Management fund continues to wreak havoc in the banking sector as new players are discovered that had strong exposure, such as Japan’s Mitsubishi UFJ Financial Group.
During the early hours in Lisbon, Treasury yields in the United States rose again to 14-month highs, now standing at 1.77%, at a time when investors are evaluating the economic recovery and the impact it will have on US inflation. Joe Biden, the country’s president, will release more details about his new $3 trillion plan, which will focus on infrastructure, and follow on from the more short-term $1.9 trillion plan approved a few weeks ago in Congress.
