Bassanese Bites: Wage test ahead – May 15 2023
Global markets
Global equities pulled back a little further last week with the S&P 500 inching back 0.3% after a 0.8% fall the previous week. The S&P appears to be struggling to break through the previous early February high of 4,119 after having reached a recent high of 4,169 on 28 April. At this stage, the upward trend from the lows of last October appears to be faltering somewhat.
At the same time, US 10-year bond yields are also testing support at around 3.4%, with as yet no decisive break lower.
