A global bond selloff that drove yields to multi-decade highs began to stabilize in Asia as oil snapped a two-day surge, offering investors some respite after a bruising stretch for debt markets. The 10-year Treasury yield slipped one basis point to 5.19%, following a jump of more than 20 basis points over the previous two sessions. The rate-sensitive two-year yield declined two basis points to 4.90%. Gold held around $4,270 an ounce, while the dollar steadied after five straight gains. Providing support, Brent fell 0.8% to about $105.70 a barrel, following a surge of more than 7% over the previous two sessions. US and Iranian negotiators explored a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports. As sentiment stabilized, stocks rose and US equity-index futures pared earlier losses. MSCI’s Asia Pacific equities gauge climbed 0.3%, with Japan leading the gains as markets in South Korea, Taiwan and mainland China were closed for a holiday. Contracts indicated gains for European shares at the open. Oil prices and bond yields are likely to remain key drivers for markets, with still-elevated energy costs adding to inflation pressures and reinforcing expectations for further Federal Reserve tightening. Swaps fully price three additional quarter-point hikes over the next year, a prospect that has driven long-term Treasury yields to multi-decade highs and increased pressure on equity valuations. In other corners of the market, the yen strengthened against the dollar after Finance Minister Satsuki Katayama commented that US President Donald Trump shared concerns about the weak Japanese currency. The currency gained 0.3% to 158.40 per dollar. While Treasuries stabilized, Australian and New Zealand 10-year bond yields edged higher, with the yield on a global bond index hitting 4% for the first time since 2007. Japanese government debt also fell. Goldman Sachs Chief Regional Equity Strategist for Asia Pacific Timothy Moe explains why AI-related stocks remain good investments despite rising rates on government debt. Meanwhile, Chinese stocks in Hong Kong slipped as the lack of concrete announcements from the meeting between Trump and China’s Xi Jinping weighed on market sentiment. Moves in Asia Pacific tracked a global slump in bonds that pushed the 30-year Treasury yield to the highest since 2004 and lifted the 10-year yield eight basis points to 5.20% in the New York session. US After Hours BB +1.3% higher on earnings; SCHL -12.1%, LGCY -8.4% lower on earnings.
Nikkei +1.33% Hang Seng -1.38% CSI Closed Kospi Closed Shanghai Closed Shenzen Closed
Eur$ 1.1374 CNH 6.7190 CNY 6.7133 JPY 158.14 GBP 1.3219 CHF 0.8291 RUB 84.9406 TRY 48.9406 WTI$ 92.98 Gold 4,268 -0.13% BTC 84,171 -0.13% ETH 2,679 -0.28%
S&P +0.04% Nasdaq +0.29% EuroStoxx +0.78% FTSE +0.30% Dax +0.73% SMI +0.60%
Macro :
- Oil Declines as US and Iran Explore Agreement to Reopen Hormuz
- Hedge Fund With 235% Return Says Gold Price Decline Is Temporary
- Hedge Fund With 235% Return Says Gold Price Decline Is Temporary
- US, Iran Said to Be Exploring Phased Deal to Open Hormuz
- Ex-Goldman Trader Builds Mini Pod Shop With Offbeat Hires
- Point72 Joins Hedge Fund Peers Locking Up Client Cash for Longer
- US-Greenland Security Deal Opens Door to American Investment
Keep an eye on :
Keep an eye on :
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