Markets React to Assassination Attempt on Former President Trump

The attempt to assassinate former President Donald Trump has sent shockwaves through European and global markets. Traders are reacting by buying the U.S. dollar and bitcoin, while selling long-term U.S. Treasuries. Key economic events include speeches from Fed Chair Jerome Powell and ECB President Christine Lagarde, as well as earnings reports from major Wall Street firms.

The attempt to assassinate former President Donald Trump is causing significant market reactions this Monday. Traders are purchasing the U.S. dollar and bitcoin while selling long-term U.S. Treasuries, moves that reflect predictions of a Trump political comeback.

Futures for 10-year Treasuries fell, suggesting rising yields, amid expectations that a Trump win would lead to higher inflation and debt due to his economic policies. Federal Reserve Chair Jerome Powell's upcoming speech could also shift market bets on a September rate cut.

In Europe, markets are opening lower with EUROSTOXX 50 futures declining by 0.5%. Euro zone industrial production data is expected to show a 1.9% drop for April, influencing expectations for the European Central Bank's upcoming rate review. Despite ECB President Christine Lagarde's speech, a steady 3.75% policy rate is anticipated.

On Wall Street, BlackRock Inc and Goldman Sachs are set to release earnings, with high expectations following major growth reported by Citigroup and JPMorgan. In Asia, Chinese data missed growth forecasts for the second quarter, raising the need for further economic stimulus. The People's Bank of China kept its key policy rate unchanged, signaling stability in lending rates for this month.

Key events on the market radar today include speeches from ECB President Christine Lagarde and Fed Chair Jerome Powell, as well as earnings reports from BlackRock and Goldman Sachs.

(With inputs from agencies.)