The eurozone countries have an imbalanced approach to jumpstarting their economies, relying only on monetary policy but failing to address fiscal issues such as punitive taxation and over-bloated entitlement spending.
U.S. equity-index futures gained, signaling the gauge will recoup some of yesterday’s losses, and copper rose with oil amid signs economies in China and the euro area are strengthening. Treasuries fell and the yen weakened.
Treasuries fell, with two-year note yields rising from a 17-month low, as Federal Reserve Bank of St. Louis President James Bullard said the central bank should consider delaying the end of its bond-buying monetary stimulus to halt a decline in inflation expectations.
It’s been a slow start to the week with no major economic data released out of Europe or the U.S. today, and today’s lackluster trade has been exacerbated by the Columbus Day bank holiday in the U.S. and Canada.