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FTSE 100 set to gain as central banks convince investors rates will stay low

Jim Armitage
·2-min read
(PA)
(PA)

The FTSE 100 Index was today set to continue the week’s becalmed theme with a slight drift upwards as concerns over interest rate hikes ease.

Investors took the view that surging inflation data in the US yesterday could be largely the result of one-off factors which would tail off in the coming months. With that in mind, traders bought bonds yesterday, sending yields downwards and shares up.

The debate remains finely balanced, however, leaving companies, bankers and brokers in a quandary over the future direction of investor sentiment.

Three London IPOs were suspended this week with brokers blaming “indigestion” and lack of certainty over demand.

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At a time when the world could be braced for an end to central bank stimulus and a return to more normal interest rates, the thinking goes, major funds will see less need to take punts on riskier investments such as newcomers to the stock market, or highly valued tech companies.

Watch: How to prevent getting into debt

If interest rates are about to rise, less risky bonds and currencies suddenly begin to become more appealing.

Central banks have kept a lid on speculation that they will be tightening policy any time soon, but investors are increasingly wondering how long that will last.

The FTSE 100 was expected to open up 10 points at 7098 with the Dax in Germany called up 15 at 15,596 and France’s CAC 40 up nine at 6555.

That sentiment may change slightly when UK GDP data is released this morning.

Bitcoin is up 1% over the last day to $37,070. JPMorgan analysts reckon a Bitcoin bear market in the unfathomable world of crypto is coming.

Its strategists reckon a bear market is coming, citing the fact that futures prices are now below the current price. The same thing happened in 2018 shortly before the crypto fell 74%, its analysts pointed out.

They added that Bitcoin has lost its share of the entire crypto market as alternative coins have gained prominence.

The crypto has been stuck at under $40,000 despite positive news such as El Salvador’s decision to adopt Bitcoin as legal tender.

Watch: What are SPACs?

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