This translation has been automatically generated and has not been verified for accuracy.Global markets showed further signs of stabilization on Wednesday as investors looked past a rising death toll from China’s coronavirus outbreak to tiptoe back into shares and out of safe-haven assets such as the yen and German bonds.
While mainland Chinese markets remain closed, Chinese equity futures traded in Singapore rebounded from two days of losses to rise 1.79%, the biggest gain in almost seven weeks. Risk aversion has not completely lifted, however; with the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict serious damage on Chinese growth, already at three-decade lows.
The safe-haven yen was flat but traded above two-week highs touched on Monday while the dollar index too edged lower after approaching two-month highs. Fears of economic damage are reflected also in the U.S. Treasury yield curve where three-month yields briefly rose on Tuesday above 10-year borrowing costs -- the so-called curve inversion that is seen as a fairly reliable recession signal.
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