SINGAPORE - Asian stocks struggled for headway on Wednesday while 10-year U.S. Treasury yields stood at 16-year highs as surging oil prices drive inflation and set the scene for the Federal Reserve to project interest rates staying higher for longer.
Benchmark 10-year Treasury yields hit their highest since 2007 at 4.371% overnight and were last at 4.36%. "The previous dot plot saw many participants expecting a cut in 2024. There is no reason for those dots to significantly move," said Sam Rines, managing director at research firm CORBŪ in Texas. The yen is down 11% on the dollar this year as expectations firm for U.S. rates to stay high and Japanese rates to stay low. The yen hit a 10-month trough of 147.95 to the dollar late last week and it traded at 147.80 early on Wednesday.
China left benchmark lending rates unchanged on Wednesday, as expected, keeping the yuan steady at 7.2946 per dollar. [CNY/]
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Asian Stocks Under Pressure With Fed in Focus: Markets Wrap(Bloomberg) -- Stocks declined in Asia after Wall Street posted modest losses ahead of the Federal Reserve’s policy decision, with traders betting interest rates will be higher for longer to curb inflation.Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingF-35 Debris Found After a $100 Million Fighter Jet Went MissingIndia, Canada Trade Diplomatic Blows Over Murder AllegationsVanderbilt Rips US News Over Slide in College RankingsBenchmark indexes traded
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks mixed as Wall Street braces for Fed meeting: Stock market news todayWall Street fixed its focus on an upcoming Federal Reserve meeting where the central bank will issue its next interest rate decision: stock market news today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Wall St subdued as chipmakers, growth stocks drag; Fed rate meet in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Stocks hope for gains before Fed's September meetingMarkets seek to reverse course ahead of the Fed’s September FOMC meeting, after 2 weeks of downtrends.Yahoo Finance Markets Reporter Jared Blikre joins to take a look at the market volatility index (^VIX), giving insights into how markets are anticipating the Fed’s next interest rate decision on Wednesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
European Stocks Steady Ahead of Fed, Oil Triggers Inflation WoesEuropean stocks were steady as investors were wary of making bets ahead of this week’s central bank meetings, while Brent oil’s rally to $95 triggered worries about inflation spiking again.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stocks slide ahead of Fed meeting, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve was set to begin its latest policy meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »