Bond Yields Slide on US Data; Asian Stocks to Fall: Markets Wrap

-- Australian and New Zealand bonds rallied, tracking gains in US Treasuries after weak manufacturing data bolstered bets the Federal Reserve will cut interest rates this year. Asian shares are poised to decline.AMLO Protege Sheinbaum Becomes First Female President in Mexico

“The Manufacturing ISM data reaffirmed several prevailing economic trends: decelerating inflation, slowing growth, and a tight labor market,” said Gary Pzegeo at CIBC Private Wealth US. “We should see higher odds of a rate cut later this year priced into interest rate futures.” Oil tumbled as OPEC+ rolled out a plan to restore some production to the market this year. Bitcoin briefly topped $70,000.

With the US earnings season mostly in the rearview mirror, traders will focus on whether inflation is cooling or is stuck in a loop that will leave interest rates in “higher-for-longer’ limbo,” according to Chris Larkin at E*Trade from Morgan Stanley. “This week’s jobs report represents the next big test.”

Nvidia Corp. and Advanced Micro Devices Inc.’s chiefs showcased new generations of the chips powering the global boom in AI development, deepening a rivalry that may decide the direction of artificial intelligence design and adoption. Bill Ackman’s Pershing Square aims to raise $25 billion for a new closed-end fund targeting US retail investors, which would more than double the fee-paying assets the firm manages, according to people with direct knowledge of the plans.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European Stocks Slip as German Data Lifts Bond Yields FurtherEuropean equities fell for the second straight day, touching a three-week low, as accelerating inflation in Germany lifted bond yields and prompted traders to pare bets on central bank easing.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Cryptos stumble, stocks slide as rising yields pressure risk assetsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market today: Dow leads stock market slide as rising Treasury yields rattle nervesA spike in Treasury yields has unsettled investors already weighing whether recent data will shift the needle on interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Markets today: Stocks slide as weak treasury sale lifts U.S. yieldsA slide in bonds dragged down stocks as another weak sale of Treasuries raised concern about swelling supply that could keep driving yields up at a time when the Federal Reserve is in no rush to cut rates.
Source: BNNBloomberg - 🏆 83. / 50 Read more »