A currency trader looks at monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Oct. 12, 2023. Asian shares mostly rose Thursday as investors awaited the release of U.S. consumer price index numbers and kept a cautious watch over the war between Israel and the Palestinian militant group Hamas.– Asian shares mostly rose Thursday as investors awaited the release of U.S.
Tensions in the Middle East are under the spotlight, with a possible escalation if nations like Lebanon or Iran are drawn in, which would set off significant movement in U.S. Treasuries, he said. The yield on the 10-year Treasury fell to 4.57% from 4.66% late Tuesday and from more than 4.80% last week, when it reached its highest level since 2007. Besides hurting prices for investments, high yields have jacked up rates for mortgages and other loans, which saps momentum from the economy.
“Fed officials are gradually taking comfort with the fact that the July rate hike may have been the last one in this historic tightening cycle,” said Gregory Daco, chief economist at EY.last month suggested officials see the outlook for the U.S. economy as particularly uncertain. They said they were ready to “proceed carefully” in deciding what to do next with rates.
. Though the area doesn't produce much oil, the worry is that the violence could spill into the politics around the crude market and hurt the flow of petroleum.Exxon Mobil
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