Sydney — Asian share markets stabilised on Tuesday after steep losses in the past 24 hours, while the US dollar remained elevated as investors considered the prospects interest rates would remain higher for longer in many developed economies.
“Sentiment in markets is dominated by central banks and the repricing of rates yet again,” Kerry Craig, JPMorgan Asset Management’s global market strategist, said. The repricing of higher rates began after strong US jobs growth in January, with employment rising 517,000, more than double economists’ expectations. The unemployment rate hit 3.4%, the lowest in more than 53 years.
“The market has repriced to expect that the Fed Funds rate will peak just above 5% and it now only anticipates very limited rate cuts, just one of 25 basis points by the end of this year,” ANZ economists wrote.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »
World stocks fall on interest rate fears, strong dollar and political turbulenceA run of upbeat economic data suggests interest rates will have to rise further and stay higher for longer
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: Rand at worst level in six weeks as dollar soarsThe JSE tracked global peers weaker as investors assessed the US Federal Reserve’s next move
Source: BDliveSA - 🏆 12. / 63 Read more »