Asian stocks step back from record highs on rising bond yields, weak US data

Asian stocks pulled back from all-time peaks on Friday as higher longer-dated bond yields and underwhelming U.S. data dented investor confidence in a faster economic recovery from the COVID-19 pandemic, while gold hit a seven-month trough.

Since the start of the year, the index has surged nearly 10.5per cent largely led by easy monetary and fiscal policies around the world. Core bond yields have pushed higher globally led by the so-called"reflation trade" where investors wager on a pick-up in growth and inflation. Successful coronavirus vaccine roll-outs so far and hopes of massive fiscal spending under U.S. President Joe Biden have spurred reflation trades.

An unexpected increase in the number of Americans seeking jobless benefits hung heavy on outlook. The Labor Department reported initial unemployment claims rose by 13,000 to 861,000, injecting skepticism about how quickly the U.S. economy could rebound from the global pandemic.On Wall Street, the Dow fell 0.38per cent, the S&P 500 lost 0.44per cent, and the Nasdaq Composite 0.72per cent.The British pound hit its highest in over three years at US$1.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Asian equity futures under pressure after US stocks, oil slideAsian stocks were poised to follow Wall Street lower on Wednesday as the cost of the U.S. stimulus and infrastructure plans and new pandemic curbs ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

Asian stocks set to mostly rise after Fed projects US GDP surgeAsian stocks were set for modest gains on Thursday after the Federal Reserve pledged to keep monetary policy and rates unchanged and projected a ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

Asian stocks recover on firmer futures, retreat in US yieldsAsian stocks were set for a strong open on Tuesday, helped mostly by global recovery prospects and the passage of a US$1.9 U.S. trillion stimulus ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »