Asian Stocks to Dip as US Bond Sale Saps Sentiment: Markets Wrap

-- Asian equities were set to drop Thursday after a weak Treasury auction dealt a fresh blow to sentiment on Wall Street.NYC Subway Riders See ‘Exceptionally High’ Air Pollution

The auction result is “consistent with our view that we’re due for a continued correction higher in yield in the near-term,” said Zachary Griffiths, head of US investment grade and macro strategy at CreditSights. “The repricing following what was really just a moderately weak payrolls report seems way overdone.”

Earlier gains in stocks were fueled by Japan’s reassurance on the heels of massive swings in the country’s stock prices over the past week. The moves were compounded by the view the Fed would cut rates more aggressively, prompting traders to rapidly unwind once-popular yen-funded carry trades — including crowded positions in US tech stocks.

“Stocks remain vulnerable,” said Fawad Razaqzada at City Index and Forex.com. “More evidence of a bottom is needed to excite the bulls again. Overall, sentiment remained cagey. Not many people were confident to buy this latest dip, especially with US CPI looming next week.” Los Angeles, Aug. 07, 2024 -- Los Angeles, California - Your Laser Skin Care has announced an exciting expansion to include treatments specifically for gummy smiles. This move aims to offer a wider range of cosmetic solutions, addressing more needs within the community. The new service at Your Laser Skin Care Botox Medical Spa highlights their commitment to offering comprehensive cosmetic care.

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