Asia stocks, currencies advance as Fed bets Pulled: Markets wrap

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

Bitcoin fell 1.6% to $34 366.47.

Stocks and currencies in Asia gained along with a weakness in the dollar, as traders embraced riskier assets on prospects the Federal Reserve’s tightening cycle is nearing an end.

Traders are now turning their attention to the US nonfarm payroll data due later Friday for further conviction on the Fed’s rate path. Bloomberg Economics expects the pace of hiring to slow to less than half of September’s strong gain. Long-dated Treasury yields fell Thursday. The 10-year benchmark slipped nearly eight basis points. Trading in Treasuries in Asia will be closed given the holiday in Japan.

Others hold a more cautious view. Hedge fund K2 Asset Management is predicting that benchmark 10-year Treasury yields will rise back to 5% — from 4.66% — while Franklin Templeton says they could peak at 5.25% — a level last seen in 2007. Barclays Plc co-head of global markets Stephen Dainton said it is “very unlikely” the Fed is done tightening policy.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 5. in BUSİNESS

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.

Stocks rally as Fed’s historic rate hikes near end: Markets wrapSpot gold rose 0.1% to $1 984.85 an ounce.
Source: Moneyweb - 🏆 5. / 77 Read more »

Behavioural finance: The psychological symphony in financial marketsThe mind can be your best ally or your worst adversary in the financial arena.
Source: Moneyweb - 🏆 5. / 77 Read more »

Market is at odds with Fed on whether bank reserves are scarceBank reserves totaled $3.26trn in the week through October 25, Fed data shows.
Source: Moneyweb - 🏆 5. / 77 Read more »