Deutsche Bank strategists report that global equities have demonstrated notable resilience despite ongoing stress in bond markets, with US technology stocks leading the way. The S&P 500 closed up 0.66%, remaining within half a percent of its record high, while the NASDAQ gained 1.05% and the 'Mag 7' group of tech stocks rose by 1.23%, both reaching new record levels [1].
European equities also showed strength, with the STOXX 600 rising 0.36%, now about 4% below its August record high. Major European indices posted gains: the FTSE 100 increased by 0.34%, the DAX by 0.09%, and the FTSE MIB by 0.66%, with France being an exception to the positive trend [1].
In Asia, markets were generally firmer. The Hang Seng advanced 0.77%, the Nikkei climbed 0.82%, and the S&P/ASX 200 rose 0.51%. However, the KOSPI fell 1.44% after initially opening higher, following a holiday closure the previous day. Mainland Chinese markets remained closed for the National Day and Golden Week holidays and are set to resume trading on Thursday [1].
Looking ahead, US equity futures are up around 0.1% and European futures are up 0.4%, indicating expectations for further modest gains [1].
CONCLUSION
Global equities, particularly US technology stocks, have maintained resilience in the face of bond market pressures. European and most Asian markets also posted gains, with futures suggesting continued modest strength. The market takeaway is one of cautious optimism, with equities holding firm despite broader rate-related stresses.
