Asian stocks declined along with sovereign bonds after hawkish signaling from the Federal Reserve stirred concerns the US central bank would continue to raise interest rates. Hong Kong shares underperformed the region, falling as much as 3.4%, as trading resumed after a holiday. Other benchmark indexes also declined, driving the MSCI Asia Pacific Index to the lowest since December. China is in the midst of a weeklong holiday. The Australian dollar held an earlier loss and the country’s government bonds were little changed after the central bank held its policy rate unchanged for a fourth meeting on Tuesday, while warning that some further tightening of monetary policy may be required. Meanwhile, bonds in Asia fell, with the yield on Australia’s 10-year bond remaining near the highest since 2011. The moves mirrored the slump in Treasuries after hawkish Fed messaging overtook earlier optimism about the deal to avoid a US government shutdown. Yields on five- to 30-year Treasuries all jumped about 10 basis points Monday, while those on the benchmark 10-year note climbed to the highest since 2007. Treasuries steadied in Asia Tuesday. The selloff in global bonds gathered momentum as the US shutdown reprieve prompted traders to raise bets on a November rate hike from the Fed to a roughly one-in-three chance, up from the 25% likelihood priced on Friday. Fed Vice Chair for Supervision Michael Barr said the biggest question before central bankers was how long to leave rates elevated, while known FOMC hawk Michelle Bowman reiterated her call for multiple hikes. Cleveland Fed President Loretta Mester, who does not vote on monetary policy this year, said on Monday the central bank will likely need to raise rates once more this year and then hold them at higher levels for some time to get inflation back to its 2% target. The dollar gained against most of its Group-of-10 peers after Bloomberg’s dollar index jumped 0.7% Monday. The greenback touched a year-to-date high versus the yen after the Bank of Japan said it would conduct an additional buying operation. The yield on Japan’s 10-year bond slipped two basis points after the Ministry of Finance held an auction Tuesday. China Evergrande Group defied the stock markets’ decline Tuesday, surging as much as 42% as it restarted trading after a halt last week. gold steadied after slipping to the lowest since March. Oil retreated, with West Texas Intermediate dropping below $90 a barrel. A Citigroup Inc. analyst said waning demand from China is poised to to cap the gains from OPEC+ supply cuts. US After Hours ODD +13.2% up on guidance; SCU +5.5% higher after Boaz Weinstein raises bid; TAK -5.9% down after providing EXKIVITY updates.
Nikkei -1.75% Hang Seng -2.89% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0463 CNH 7.3253 CNY 7.2980 JPY 149.91 GBP 1.2065 CHF 0.9195 RUB 99.1172 TRY 27.5014 WTI$ 88.05 Gold 1,819 BTC 27,600 -0.85% ETH 1,669 +0.20%
S&P -0.16% Nasdaq -0.20% EuroStoxx -0.60% FTSE -0.27% Dax -0.64% SMI -0.23%
Macro :
- Rolex Prices Drop as Cheaper Watches Outperform: Subdial Index
- Morgan Stanley’s Wilson Says Higher Rates Catching Up to Stocks
- Morgan Stanley’s Wilson Says Higher Rates Catching Up to Stocks
- France Opposes Delay of Post-Brexit EV Tariffs as Deadline Nears
- JPMorgan’s Kolanovic Says Soft-Landing Talk Resembles 2007 Cycle
- Portugal to End Its Non-Habitual Resident Tax Regime, Costa Says
Keep an eye on :
Keep an eye on :
- ACC NO : Aker Carbon Capture Cut at Citi on Risks to Achieving Targets
- ALV GY : Cinven Mulls Sale of German Life Insurer Viridium: Reuters
- Astara IPO : Bergé Hires BNP, MS, HSBC for IPO of Car Unit Astara: Expansion
- Banks Renew. Hldg : Brookfield to Buy Banks Renewables in ~$1b Deal: FT
- BOO LN : *BOOHOO CUTS FY24 OUTLOOK, NOW SEES REVENUE FALLING 12%-17%
- CON GY : Continental's MSCI ESG Rating Raised to A from BBB
- ERICB SS : Ericsson Names Jan Sprafke Chief Compliance Officer
- HEI GY : JSW in initial talks to cement deal with Germany’s Heidelberg Materials for its India business
- INDV LN : Indivior, Holder Two Seas Discussed Board Seat for Toussi
- INVP LN : Business Day.za: Investec eyes doubling market share in business banking in two years
- KGX GY : Kion's MSCI ESG Rating Raised to AAA from AA
- MAP SM : Mapfre's MSCI ESG Rating Raised to AA from A
- MB IM : Del Vecchios’ Delfin Approves Candidates for Mediobanca Board
- NKE US : Nike Sales Trends Show Weakness as Analysts Fret Over Inventory
- NOVOB DC : Novo Jumps as Mylan Challenge of Two Wegovy Patents Denied
- PSH NA : Pershing Square Holdings Sept. Net Performance -1.2%
- REN PL : Portuguese Electricity Demand Fell 0.3% in September, REN Says
- REN PL : Portuguese Electricity Demand Fell 0.3% in September, REN Says
- CFR SW : Rolex Prices Drop as Cheaper Watches Outperform: Subdial Index
- SAF FP : Safran Buys Thales’ Aeronautical Electrical Systems; No Terms
- SAN FP : Sanofi, Janssen Ink Deal to Develop, Commercialize ExPEC Vaccine
- SPM IM : Saipem's MSCI ESG Rating Raised to A from BBB
- SIKA SW : Sika Raises Sales Growth Target as Sales Rise by 12.2% YTD
- FLY FP : Societe Fonciere Lyonnaise's MSCI ESG Rating Lowered to BBB from
- STLAM IM : Italy Sept. New Car Sales Rise 22.78% Y/y
- HO FP : Safran Buys Thales’ Aeronautical Electrical Systems; No Terms
- VOD LN :
- VONN SW : Vontobel Names Georg Schubiger, Christel Rendu de Lint Co-CEOs
- ZEG LN : *ZEGONA ASKS BANKS TO RAISE €2.5B FOR VODAFONE ESPANA BID: CONFI