Asian stocks overnight gained support on China trade data that showed exports in dollar terms rose more that 30 per cent in March from a year earlier, short of expectations. Imports jumped 38 per cent, the fastest pace in four years, suggesting a post-pandemic recovery in Chinese spending.
The dollar fell and gold prices, a traditional inflation hedge, rebounded from their lowest in more than a week. Equity markets took the data in stride, especially technology-heavy indexes whose stocks can be affected by rising debt costs. In Europe, the pan-regional STOXX 600 index closed up 0.12 per cent, with luxury and other consumer stocks leading gains, followed by technology stocks.
Treasury yields are being influenced by increased foreign demand while low bond yields and the cost of debt will buoy higher-risk equity assets, said Steven Oh, global head of credit and fixed income at PineBridge Investments. Benchmark 10-year notes fell 5.6 basis points to yield 1.6198 per cent, well below a 14-month high of 1.776 per cent hit March 30. The yield curve flattened further after the last of this week’s auctions — US$24 billion of 30-year bonds — was met with solid demand, a result analysts at Jefferies called “fabulous.”
Boston Fed President Eric Rosengren said on Monday the US economy could see a significant rebound this year due to looser money and fiscal policy but the job market still faced weakness.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »