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Wall Street equity indexes fall, Dow weakest
Materials biggest laggard; cons staples tops gains
Dollar up; crude, bitcoin fall; gold down ~2%
U.S. 10-year Treasury yield up at 4.15%
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SWEDISH KRONA HAS MORE ROOM FOR UPSIDE
BofA Global Research says Swedish krona's SEK= rally has room to run, with the currency being the best performer among G10 FX, gaining more than 15% against the dollar so far this year.
The Wall-Street brokerage expects krona's rally will be aided by both external and domestic factors.
On the external front, BofA expects a weaker U.S. dollar, supportive risk sentiment, positive spillovers from Germany's fiscal boost and European defence spending alongside some insulation from France's political volatility to boost the currency.
The dollar index .DXY has fallen over 8% so far this year, hurt by President Donald Trump's tariff policies and his renewed calls for aggressive monetary policy easing and expectations of interest rate cuts.
"On the domestic front, we anticipate stronger growth in Sweden vs. the Euro area, given Sweden's weaker starting point, higher rate sensitivity, and consumer-oriented fiscal push," BofA said, adding that they also expect a more hawkish stance from the Riksbank vs the ECB, given market pricing.
"On the flows side, asset Managers can support SEK more," BofA noted.
BofA forecasts krona to hit 8.92 per dollar by year-end and 8.40 by 2026-end.
(Siddarth S)
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EARLIER ON LIVE MARKETS:
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RECORD HIGHS BREED LARGE CAP FATIGUE CLICK HERE
HOW SHORTS ARE PLAYING THE GOLD RALLY CLICK HERE
CAN A PRODUCTIVITY SURGE RESCUE THE DOLLAR? CLICK HERE
U.S. EQUITY FUTURES TAKE A BREATHER AS INVESTOR FOCUS SHIFTS TO POWELL'S REMARKS CLICK HERE
DEUTSCHE TURNS POSITIVE ON LUXURY CLICK HERE
METALS BACK AT CENTRE OF GLOBAL ECONOMY - SAXO CIO CLICK HERE
HAS FED RATE PRICING GONE TOO DOVISH? CLICK HERE
BEFORE THE BELL: EUROPE STEADY, TSMC BEATS, FERRARI GOES ELECTRIC CLICK HERE
ASIA STOCKS TAKE TECH TRAIN TO NEW HEIGHTS CLICK HERE
Eu open https://tmsnrt.rs/3VXp11d
Market_Snapshot_Oct 9 https://tmsnrt.rs/470BDK0