Investment Daily: US stocks extended gains as Treasuries edged lower
17 April 2026
Key takeaways
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US stocks and Treasury yields rose.
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European stocks and government bonds lacked clear direction.
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Asian stocks traded mixed.
Markets
US stocks continued to grind higher on Thursday, amid investor optimism over easing Middle East tensions and corporate earnings. The S&P 500 ended 0.3% higher.
US Treasuries edged lower, with 10-year yields closing 3bp higher at 4.31%.
European stocks lacked clear direction on Thursday with geopolitical developments in the Middle East remaining in focus. The Euro Stoxx 50 edged 0.1% lower. The German DAX rose 0.4%, and the French CAC was down 0.1%. In the UK, the FTSE 100 gained 0.3%.
European government bonds traded mixed. 10-year German and French bond yields both edged 1bp lower to 3.03% and 3.68%, respectively. In the UK, 10-year gilt yield rose 4bp to 4.85%.
Asian stock markets traded mixed on Thursday as investors weighed corporate earnings and geopolitical developments. Gains in tech shares lifted North Asian markets, with Japan’s Nikkei 225 rallying 2.4% and Korea’s Kospi advancing 2.2%. China’s Shanghai Composite and Hong Kong’s Hang Seng rose 0.7% and 1.7%, respectively, supported also by better-than-expected Q1 China GDP data. Meanwhile, India’s Sensex was down 0.2% while ASEAN markets were also mostly lower.
Crude oil prices rose on Thursday. WTI crude for May delivery settled 3.7% higher at USD94.7 a barrel.
Key Data Releases and Events
Releases yesterday
In China, Q1 real GDP growth accelerated more than expected, to 5.0% yoy from 4.5% yoy in Q4 2025, driven by export strength and an investment (ex. property) recovery aiding solid industrial activity. Nominal GDP growth picked up more notably. In terms of March activity indicators, industrial production showed resilience with limited disruption from the energy shock so far, as high-tech manufacturing and other policy-tailwind sectors continued to outperform. Meanwhile, retail sales growth softened partly as the holiday boost faded and the high base from last year’s trade-in subsidies kicked in, with auto sales a major drag. Services consumption, however, held up better. Overall, the sectoral divergence remained evident with the property sector remaining under pressure.
In the US, industrial production unexpectedly fell -0.5% mom in March, after a 0.7% mom increase in February, dragged by overall factory, mining and utility output.
Releases due today (17 April 2026)
No major releases.
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