A gauge of the region’s equities held a slight gain as shares edged higher in Japan and Australia and were mixed in Hong Kong and China. US equity contracts rose after the S&P 500 closed at its lowest since 2020 and the Cboe Volatility Index spiked past 30, a level it hasn’t closed above since June.
The Bank of Japan announced an unscheduled bond buying operation across a wide range of maturities after the country’syields rose to the highest level since 2015 as global debt markets come under pressure from expectations for further monetary tightening. BOJ governor Haruhiko Kuroda said on Monday that Japan’s intervention in the currency market was appropriate given recent volatility in the yen. Japan spent about 3 trillion yen on its action, Nikkei reported.from China’s central bank as the yuan approaches the lowest level in 14 years.
The pound made a small advance following its drop to a record low Monday. The Bank of England said it may not act before November to stem a rout, leaving traders wary of the risk that the currency could drop to parity with the dollar.
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International Finance: Dollar rallies, stocks drop in rocky start to week: markets wrapThe dollar rallied, bond yields climbed and Asian shares slid amid unrelenting pressure on risk-sensitive assets as fears of faster inflation and global recession continued to rise.
Source: dailymaverick - 🏆 3. / 84 Read more »
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Source: dailymaverick - 🏆 3. / 84 Read more »