Pressure emerged for European stocks, but more notably for Nasdaq-100 futures on Friday, as Treasury yields resumed their climb.
The Stoxx Europe 600 index SXXP,
A familiar scenario was emerging for investors, with Nasdaq-100 futures NQ00,
European and U.S. stocks climbed Thursday after President Joe Biden signed a $1.9 trillion stimulus bill into law, and the European Central Bank said it would speed up its bond buying plan as it continues to battle the effects of the pandemic on economies.
While the ECB’s stance spurred gains for the region’s bonds on Thursday, those assets were under some pressure again Friday. The 10-year German government bond yield TMBMKDE-10Y,
Data showed the U.K. economy shrank 2.9% in January, with weakness led by the services sector amid lockdowns and as new Brexit trading arrangements hit exports, the Office for National Statistics said Friday.