Daily Market Update @ 23 Oct 2024

*Daily Market Update*
Indicative as of 23/10/2024
 
*Index Daily Return* (Local Currency Terms)
🇺🇸 S&P 500 : -0.05%
🇺🇸 NASDAQ : +0.18%
🇪🇺 STOXX : -0.21%
🇲🇾 FBM KLCI : -0.19%
🇨🇳 Shanghai : +0.57%
🇭🇰 HSI : +0.10%
🇯🇵 Nikkei : -1.39%
_Source: Bloomberg_
 
*FX Rate*
🇺🇸 USDMYR : 4.3457 , +0.52%
🇬🇧 GBPMYR : 5.6384 , +0.40%
🇳🇿 AUDMYR : 2.8971 , +0.46%
🇸🇬 SGDMYR : 3.2979 , +0.30%
🇪🇺 EURMYR : 4.6915 , +0.31%
🇭🇰 MYRHKD : 1.7886 , -0.52%
🇲🇨 MYRIDR : 3581.9200 , -0.49%
🇹🇭 MYRTHB : 7.7362 , -0.15%
🇨🇳 MYRCNY : 1.6457 , -0.12%
🇯🇵 MYRJPY : 34.8830 , +0.03%
👑 Gold Spot : 2745.0000 , +0.55%
_Source: Bloomberg_
 
*MGS Yields*
MGS 5 year : 3.59% , +4 bps
MGS 10 year : 3.84% , +5 bps
MGS 20 year : 4.16% , +4 bps
MGS 30 year : 4.21% , +1 bps
_Source: Bloomberg_
 
*Daily News*
*Treasuries Plunge Like It's 1995 as Traders See Soft Landing*
Two-year yields have jumped 34 basis points since Fed meeting
Resilient economy limits room for rate cuts as election looms

*IMF Lowers Global Growth Forecast, Warns of Increasing Risks*
Fund sees wars, protectionism posing threats to expansion
Euro-area outlook reduced on manufacturing in Germany, Italy

*Bank of America CEO Urges Fed to Not Go Too Hard on Rates*
Brian Moynihan speaks in Bloomberg TV Interview in Sydney
Moynihan says he expects US terminal rate of around 3.25%

*S&P 500 Wipes Out Losses as Bonds Find Footing: Markets Wrap*
City says US stock exposure hits levels that preceded 10% fall
S&P firms reap big rewards for beating low profit estimates

*Arm to Cancel Qualcomm Chip Design License in Escalation of Feud*
Arm sued its longtime partner for breach of contract in 2022
The company gave Qualcomm a 60-day notice of cancellation
_Source: Bloomberg_