Stocks in Asia were mixed Tuesday in choppy trading as investors assessed the impact of a jump in Treasury yields on the outlook for earnings and the economy. The yen sank to a 20-year low. Equities in Japan rose as the currency’s plunge on a widening interest-rate gap with the US provided a tailwind for exporters. Australia’s three-year yields soared and stocks extended a decline on a bigger-than-expected half-point hike by the central bank. China technology stocks fluctuated as traders sought clarity on the government’s regulatory stance. Hong Kong was steady and China rose. US and European futures dropped. Asian currencies tumbled and the dollar gained as investors fled risk assets, including Bitcoin, which fell back below the $30,000 mark. Treasuries were mostly steady after losses that sent five- and 10-year yields over 3% for the first time since mid-May ahead of a slew of new debt supply before crucial inflation data at the end of the week. The 10-year Treasury yield jumped more than 10 basis points as yields across the curve advanced at least seven basis points Monday. Investors are reluctant to take on risk and volatility remains elevated. Equities are struggling to mount a sustainable rebound amid fears rising borrowing costs will hurt growth and corporate earnings. The US jobs report on Friday validated the Federal Reserve’s aggressive monetary tightening path, while surging yields are shaping up as a headwind for sentiment. The European Central Bank is set to announcean end to bond purchases this week and formally begin the countdown to an increase in borrowing costs in July, joining global peers tightening monetary policy in the face of hot inflation. US After Hours Quiet after hours; GTLB +9.4%, HQY +3.2%, COUP +0.6% higher on earnings
Nikkei +0.49% Hang Seng -0.12% CSI +0.65% Shanghai +0.48% Shenzen +0.10%
Eur$ 1.0683 CNH 6.6666 CNY 6.6645 JPY 132.85 GBP 1.2496 CHF 0.9716 RUB 61.7365 TRY 16.6381 WTI$ 119.33 +0.70% Gold 1,842.90 +0.08% BTC 29,500 -6.2% ETH 1,752 -5.8%
S&P -0.72% Nasdaq -0.95% EuroStoxx -0.83% FTSE -0.48% Dax -0.81% SMI +0.23%
Macro :
- Bitcoin Tumbles as Much as 7.1% to Drop Back Below $30,000
- Boris Johnson Wins Party Confidence Vote in His Leadership
Keep an eye on :
Keep an eye on :
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