Germany’s government bonds held a two-day advance as euro-area manufacturing growth slowed more this month than economists predicted, strengthening the case for the European Central Bank to expand monetary stimulus.
Lira weakness since the Federal Reserve signaled U.S. interest rates could rise faster than anticipated is exposing Turkey’s economic vulnerability amid concern the central bank may need to cut borrowing costs further to spur growth.
Wheat fell in Chicago as traders weighed the potential impact of tension between Ukraine and Russia on grain exports from the Black Sea region as officials held talks in Berlin on resolving the crisis. Corn rose.
U.S. equity-index futures gained as jobless claims fell and earnings from 21st Century Fox Inc. and CenturyLink Inc. beat estimates. Bonds rose as the European Central Bank kept interest rates on hold, while Australia’s dollar led a decline in higher-yielding currencies.
Gold reached the highest price in three days in New York, after the first back-to-back weekly declines since May, as investors weighed unrest in Ukraine and the Middle East against signs of a stronger U.S. economy.