World Markets Now Focusing On Sunday’s Italian Referendum, ECB Meeting Next Week

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(Kitco News) – Global stock markets were mixed overnight, on this first trading day of the month. Asian shares benefitted from Wednesday’s OPEC agreement to cut production levels, while stock markets in Europe were pressured on worries about the December 4 Italian referendum on constitutional reforms.
A ‘no’ vote on the reforms could eventually put Italy in violation of European Union rules. U. S. stock indexes are pointed toward weaker openings when the New York day session begins.
World bond markets remain in focus as yields continue on the rise. U. S. 10-year yields have risen to 2.4% late this week. Reports said the U. S. bond market in November suffered its worst month in seven years. German government bonds are yielding right around 0.3%, which is still a historically low number. However, just several weeks ago German Bund yields were in negative territory.

This post was published at Examiner by Jim Wyckoff ‘ December 1, 2016.