Business Maverick: Asia stocks set for mixed open with jobs in focus: markets wrap

The Bloomberg Dollar Spot Index steadied after sinking to its lowest since June.

Australian and New Zealand government bond yields slid, following the lead from Treasuries on Thursday, when their rally gathered steam amid a pullback in expectations for Fed tightening. The 10-year US benchmark yield rose slightly to 3.54% during Asian trading.may fall short of the turning point Fed officials are seeking in their battle to beat back inflation.

Still, Sarah Ponczek, financial adviser at UBS Private Wealth Management, said the jobs figures and other data may start to show a slowing trend in the economy. “There have been slight hints that the interest-rate hike cycle that we have seen is starting to filter through the economy,” she said on Bloomberg Radio., with the rand coming off its worst one-day loss since May and yields on the 10-year sovereign bond rising most since 2015.

Elsewhere, oil was set for a weekly gain with China further easing Covid restrictions and the US considering a pause in sales from its strategic reserves. Gold slid.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

International Finance: Stocks rally on Powell, China Covid; dollar slides: markets wrapStocks extended gains in Asia after China appeared to soften its Covid stance and Federal Reserve chair Jerome Powell signalled a slowdown in the pace of interest-rate hikes.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Chinese Stocks Listed in US Add $177 Billion in Historic MonthChinese stocks listed in the US climbed for a third day, adding to a record rally this month fuelled by optimism over reopening bets as some parts of the country loosened lockdown restrictions.
Source: dailymaverick - 🏆 3. / 84 Read more »