Asian bonds declined and the dollar remained under pressure after a rally in Treasuries faded, with investors betting that US efforts to contain long-term borrowing costs through buybacks may offer only a temporary reprieve. Bonds fell in Japan, Australia and New Zealand after their US peers turned lower on Thursday, giving up much of the previous day’s gains that had been triggered by the Treasury’s decision to increase buybacks. The reversal came even as Treasury Secretary Scott Bessent flagged scope for larger debt repurchases and an upcoming fiscal plan. Treasuries stabilized Friday, with the 30-year yield holding at 5.25%, after rising six basis points in the prior session. The 10-year yield was at 4.70%, roughly where it was before Bessent’s surprise move. A Bloomberg gauge of the dollar fell 0.1%, set for its third weekly loss in four weeks. Elsewhere, MSCI’s Asia Pacific equities edged up 0.4% after swinging between gains and losses, with early focus on Samsung Electronics Co. The company is expected to announce a shareholder return package Friday that may be worth as much as 110 trillion won ($79 billion), according to a person familiar with the matter. The whipsaw trading in bonds extended a volatile stretch on Wall Street as a series of Treasury decisions underscored growing concern over elevated long-term yields. Lofty government financing costs are feeding through to the broader economy and weighing on equities, after years of elevated inflation and government spending. Focus now shifts to Nvidia Corp.’s earnings and the Jackson Hole symposium next week, she said. In other corners of the market, the yen was little changed after Japan’s key price gauge accelerated for a second month, keeping the Bank of Japan on track for another near-term interest rate hike as market speculation builds over a move as soon as September. The yen traded around 159 per dollar. Brent crude erased earlier losses to edge up 0.2% to almost $94 a barrel, with no resolution in sight for the crisis in the Middle East. Gold edged up to about $4,525 an ounce, on track for a third weekly gain. Bitcoin surpassed $70,000 for the first time in over two months after a US President Donald Trump met with crypto industry leaders. The original crypto currency traded close to $75,000 Friday. Meanwhile, Bessent played down Thursday’s market moves, saying “anything that happens within a 24-hour period is noise.” He also said the expanded buyback operations “could be more than the $4 billion” size planned to start next month. Market participants are warning that a lack of predictability when it comes to the US Treasury’s debt management strategy could ultimately portend higher borrowing costs. Investors and analysts at JPMorgan Chase and Co., Jefferies LLC and PGIM Inc. say that surprises stand to increase term premium, or the extra compensation demanded in the market to offset potential risks, on US government debt. US After Hours ROST +7.6% higher on earnings; OSIS -13.8%, FLO -4.9% lower on earnings.
Nikkei -0.52% Hang Seng +0.75% CSI +0.43% Kospi +0.79% Shanghai -0.09% Shenzen +0.20%
Eur$ 1.1700 CNH 6.7221 CNY 6.7231 JPY 158.91 GBP 1.3654 CHF 0.7988 RUB 82.9915 TRY 48.0617 WTI$ 86.70 -0.13% Gold 4,537 +0.71% BTC 74,433 +2.47% ETH 2,347 +1.28%
S&P +0.08% Nasdaq +0.22% EuroStoxx -0.02% FTSE -0.01% Dax -0.04% SMI -0.29%
Macro :
- Aluminum Premium Slips as US Set to Cut Tariffs on Canada Metal
- Luxury Sales Plunge in China as Tax Push Hits Rich Shoppers
- *UK BUDGET DEFICIT £1.8 BILLION IN JULY
Keep an eye on :
Keep an eye on :
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- BABA US : Alibaba Rises After Cloud Gains Offset Capex Fears: Street Wrap
- Anthropic IPO : Anthropic Set to Add Citigroup to Top IPO Banks on Mega-Listing
- ARCAD NA : Arcadis Says Boards Have Formally Interacted With WSP (Aug. 20)
- AML LN : NY Jets Owner Johnson Buys Stake in Aston Martin F1 Team
- APETIT FH : Apetit 2Q Sales Miss Estimates
- BAVA DC : Bavarian Nordic Boosts FY Ebitda Margin Forecast
- BETCO SS : Better Collective 2Q Revenue Under Estimates
- BETCO SS : Better Collective 2Q Revenue Under Estimates
- AVGO US : Broadcom Reportedly Seeks Billions in AI Debt Deal: TMT Wrap
- EVD GY : CTS Eventim 1H Normalized Ebitda Meets Estimates
- CTPNV NA : CTP Announces Placement of €500 Million Green Bond
- DIS US : ESPN eyes more social content for Unlimited experience
- DOC AV : Turkish Airlines Seeks to Add Asia Flights, Nikkei Asia Reports
- DSFIR NA : DSM-Firmenich Starts Patent Infringement Litigation in China
- EDEN FP : The investment fund is considering taking control of the market leader in meal vouchers, a move that would result in the company being delisted from the stock exchange. BC Partners intends to team up with a financial partner first - La Lettre
- EGTX SS : Egetis Therapeutics: Egetis' Interim report Q2 2026
- FIE GY : Fielmann FY Sales Forecast Misses Estimates
- FME GY : Fresenius Sells 7.8m Shares in Fresenius Medical Care for ~€300m
- G IM : Paschi Offers to Buy BPM, Banca Generali in All-Share Deals
- HYNSA SS : Hansa Biopharma Confidentially Files for Potential ADS Listing
- HOMN SW : Holcim to Buy James Hardie’s Fermacell for €840m
- ICEAIR IR : Icelandair Acquires 49% Stake in Fly Play Europe Holdco
- MC FP : Luxury Sales Plunge in China as Tax Push Hits Rich Shoppers
- MONT BB : Montea 2Q Occupancy 99.4%
- BAMI IM : Paschi Board Is Said to Approve Bids for BPM, Banca Generali
- ROP SW : Roche’s Genentech to Invest ~$750m in Oregon Facility
- SCATC NO : Scatec Maintains FY Proportional Ebitda View, Misses Est.
- SHEL LN : Reatile to Buy Minority Stake in Shell Downstream South Africa
- SFZN SW : Siegfried 1H Ebitda Beats Estimates, Siegfried Maintains FY Core Ebitda Margin Forecast
- SOLTEQ FH : Solteq Reports 2Q Revenue of EUR 11 Million, Compared With FactSet Estimates of EUR 11 Million (2 Est.)
- SPCX US : SpaceX, AST Said Seeking Grain Spectrum Valued at $6 Billion
- SPCX US : Ukraine Seeks Musk’s Nod to Use Starlink-Equipped Drones: FT
- SYNSAM FH : Synsam 2Q Sales Above Estimates
- SYY US : D.E. Shaw Owns More Than $1b Stake in Sysco: Rtrs (Earlier)
- THYAO TI : Turkish Airlines Seeks to Add Asia Flights, Nikkei Asia Reports
- VIRT US : Virtu Said to Explore $3.5 Billion Plus Sale of Brokerage Unit