Stocks Steady With Treasuries as Holidays Kick Off: Markets Wrap

(Bloomberg) — Stocks and bonds were steady across much of the world alongside U.S. equity futures during muted Christmas Eve trading. The dollar nudged higher.

Shares fluctuated in London and Paris while they dipped in Madrid. Markets in Germany and Italy were closed, anticipating the holiday Wednesday that will shutter exchanges on both sides of the Atlantic. Equities ended little changed in Tokyo on thin volume, while they dipped in Seoul. Shanghai recovered some of Monday’s slide that came after a sell-off in tech companies. A gauge of emerging-market shares fell.

Futures on the were steady. The gauge paced other indexes on Wall Street Monday when Boeing Co (NYSE:) climbed on announcing a leadership change. West Texas oil treaded water just above $60 a barrel.

Along with the holiday calm, several asset classes are managing to hold the extraordinary gains they’ve notched in 2019. The $45 trillion is maintaining a 25% year-to-date surge that augurs its top performance in a decade. advanced, on track for its best year since 2010, as mixed U.S. data Monday kept hopes of interest-rate cuts alive.

Elsewhere, the edged up against its major peers but still was heading for a monthly decline. The was flat against the greenback after its worst week in more than two years amid renewed concern over a smooth Brexit.

Here are some events to watch for this week:

• Chinese Premier Li Keqiang hosts a summit with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in Tuesday in Chengdu, focused on trade.
• Many nations’ stock markets are closed Wednesday for Christmas. Australia, Canada, Germany and U.K. markets also shut on Dec. 26.
• U.S. on Thursday.
• Japan and are scheduled for Friday.

These are the main moves in markets:

Stocks

• Futures on the Index rose 0.1% as of 6:05 a.m. New York time.
• The U.K.’s Index was little changed.
• France’s Index gained 0.1%.
• The dipped 0.1%.
• The was little changed.

Currencies

• The Bloomberg Dollar Spot Index gained 0.1%.
• The British pound was little changed at $1.2938.
• The fell 0.2% to $1.1071.
• The was little changed at 109.40 per dollar.

Bonds

• The yield on Treasuries dipped less than one basis point to 1.93%.
• Germany’s yield gained one basis point to -0.24%.
• Italy’s yield rose two basis points to 1.43%..

Commodities

• crude increased 0.2% to $60.64 a barrel.
• increased 0.3% to $1,490.78 an ounce.
• rose 0.8% to $17.59 per ounce.
• LME gained 0.6% to $1,814.50 per metric ton.

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