Morning Briefing: Mixed markets amid uncertainty

Mixed markets amid uncertainty
There are many unanswered questions affecting the markets currently including the political landscape in Europe, US trade policies and interest rates, commodities and the global economy.

Tuesday has brought mixed sentiment so far with divergence among major equity markets.

Asia’s bourses have closed mixed with Seoul the leading market with Shanghai and Hong Kong also gaining. Tokyo closed lower with a relatively strong yen while Sydney slipped on cautious central bank meeting minutes.

European markets are also trending mixed with Greek debt talks taking place and data showing rising inflation in the UK. 

Wall Street and Toronto are expected to open higher. Canadian retail sales data is due. Fed speakers will be in focus later.
 

	Latest	1 month ago	1 year ago
North America (previous session)
US Dow Jones	20,905.86 (-0.04 per cent)	+0.79 per cent	+18.62 per cent
TSX Composite	15,442.32 (-0.31 per cent)	-3.01 per cent	+13.87 per cent
Europe (at 5.00am ET)
UK FTSE	7,413.94 (-0.21 per cent)	+1.91 per cent	+19.88 per cent
German DAX	12,047.11 (-0.05 per cent)	+0.67 per cent	+21.09 per cent
Asia (at close)
China CSI 300	3,466.35 (+0.49 per cent)	-0.47 per cent	+6.68 per cent
Japan Nikkei	19,455.88 (-0.34 per cent)	+1.06 per cent	+16.33 per cent
Other Data (at 5.00am ET)
Oil (Brent)	Oil (WTI)	Gold	Can. Dollar
52.05 (+0.83 per cent)	48.31 (+0.82 per cent)	1231.50 (-0.50 per cent)	U$0.7501
			Aus. Dollar
			U$0.7727

Banking culture still a long way from reform says Fed’s Dudley

The president of the New York Fed is in London Tuesday and has been speaking about the internal culture of banking in the wake of the Wells Fargo scandal.

William Dudley said that there is “a long way to go” for banks’ reform of how they operate internally including the culture of big bonuses and other incentives.

Reuters reports that Dudley told the meeting of bankers and regulators that "Incentives shape behavior, and behavior drives culture."