【今日短语&单词】
come hot on the heels
to happen very soon afterward
eg His resignation comes hot on the heels of the announcement that the company is going bankrupt.
falter /ˈfɒltə/
verb
lose strength or momentum.
"the music faltered, stopped, and started up again"
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原文如下：
The day in the markets
by Harriet Clarfelt
(来自：The Financial Time 金融时报)
What you need to know
• Wall Street losses deepen as S&P 500 and Nasdaq slip
• Sterling slides 1.8 per cent as dollar extends gains
• Government debt markets come under pressure after days of sharp swings
Wall Street stocks turned lower yesterday, extending losses as sentiment faltered after an upbeat start to the new month.
The S&P 500 was down 0.7 per cent by midday in New York after the broad index ended the previous session down 0.2 per cent, a decline that put the brakes on the strongest two-day advance for US equities in more than two years. The technology-heavy Nasdaq Composite slipped 0.4 per cent.
In Europe, the Stoxx 600 lost 0.6 per cent after the regional gauge closed 1 per cent lower on Wednesday.
Equities have sold off broadly in recent months, with last week capping the longest streak of quarterly losses since the 2008 crisis. As central banks twist the screws to curb inflation, the prospect of ever higher borrowing costs has hit companies’ valuations.
A report yesterday offered fresh figures on the state of US unemployment, with first-time jobless claims coming in at 219,000 for the week to October 1 — higher than the expected 203,000 and up from 190,000 a week earlier.
That weaker than forecast picture came hot on the heels of a disappointing Tuesday release on job openings in the world’s largest economy, which had eased concerns over interest rate rises and, in turn, fuelled a rally in Wall Street equities.
Current market pricing reflects expectations of the main Fed interest rate peaking at 4.5 per cent in March 2023, down from estimates in late September of almost 4.7 per cent. The Fed’s current target range stands at between 3 per cent and 3.25 per cent after three straight large jumps of 0.75 percentage points.
Government debt markets came under pressure yesterday after days of sharp swings. The yield on the 10-year US Treasury note added 0.05 percentage points to 3.81 per cent, while the policy-sensitive two-year yield rose 0.07 percentage points to 4.22 per cent.
Moves were more pronounced in UK bonds, with the yield on the 10-year gilt adding 0.13 percentage points to 4.17 per cent as its price fell. The gilt market was last week gripped by crisis as the British government’s “mini” Budget sparked fears over borrowing to fund big tax cuts.
In currencies, the dollar added 1.1 per cent against a basket of six peers, extending gains from the previous session. The pound slid 1.8 per cent to $1.112, but continued to trade well above the record low of $1.035 that it tumbled to after UK Chancellor Kwasi Kwarteng unveiled his fiscal plans on September 23.
