SINGAPORE - Asian stocks snapped a three-day winning streak on Tuesday, slipping as the bond market's rally paused and investors reined in enthusiasm about a possible peak in global interest rates.
Overnight the dollar had rallied with a rise in U.S. Treasury yields, leaving the Australian dollar under gentle pressure at $0.6495 in morning trade in Asia. Aussie government bond futures fell slightly and the ASX200, which had gained five sessions in a row, slipped 0.4%. Two-year U.S. Treasury yields rose nearly 11 basis points overnight, though that only partially unwound an 18 bp fall in the previous week. Ten year yields rose 10 bps on Monday, but had fallen almost 30 bps last week.
In Australia all of the "Big Four" banks expect rates will rise today, though market expectations are split enough that volatility is likely whatever the outcome. Overnight implied AUD/USD volatility stood near a two-month high. ‘The goose lays more golden eggs every year’: Warren Buffett explains why capitalism isn’t working for young people today — and the simple way he’d solve itDiscover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.Dividend income can be a saviour, but it can be incredibly expensive to bring in if you don't consider these other alternatives.
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