European stock futures mixed as major economies post upbeat figures
European stock markets were mixed starting the trading week as rising U.S. Treasury yields scare investors despite growing hopes for a global economic recovery. China also posted encouraging export figures for the first two months of 2021.
CAC 40 futures in France improved 0.8% while Germany’s DAX futures contract dropped 0.3% and UK’s FTSE 100 futures contract decline 0.2%.
China leads the path to global economic recovery as it posted more than 60% in dollar terms of its exports for January and February.
Furthermore, Joe Biden’s proposed $1.9 trillion stimulus package was approved by the Senate over the weekend, boosting market sentiment while equity markets have been boosted consistently by hopes of loose fiscal and monetary policy leading to faster economic recovery.
U.S. 10-year Treasury yields have sharply increased in recent weeks, jumping as high as 1.62% on Friday. Its current level is at 1.59%.