SINGAPORE, Oct 27 — Tech shares slipped and short-term Treasury yields jumped yesterday as investors expect inflation to prompt interest rate hikes, with a hotter-than-forecast reading in Australia the latest sign of prices pressuring central bankers to act.
Strong earnings had earlier propelled Wall Street indexes to fresh records and US stock futures were flat in early trade. Two-year US Treasury yields leapt nearly 5 basis points to 0.4970 per cent, a 19-month high. The Federal Reserve meets next Tuesday and Wednesday with crude oil and soft commodity prices hovering near multi-year peaks.
“The inflation overshoot has been persistent,” they said. “There is so much the Fed can tolerate before reacting ... it feels inevitable that that conversation will be brought up more and more as we go into next year.” The yield on Australia’s April 2023 government bond , which the RBA has targeted at 0.1 per cent as a signal that the cash rate will be at record lows for years, rose as far as 0.237 per cent in a direct challenge to the bank’s intentions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global stocks gain as upbeat Wall Street earnings lift outlook | Malay MailNEW YORK, Oct 26 ― Global stocks rose and Treasury yields dipped yesterday with major Wall Street benchmarks hitting fresh records, buoyed by a robust start to the US corporate earnings season and an improving economic outlook. A large proportion of S&P 500 companies are due to report results...
Source: malaymail - 🏆 1. / 86 Read more »
Tokyo stocks open higher following US gains | Malay MailTOKYO, Oct 26 ― Tokyo stocks opened higher today, boosted by gains in US shares that hit record highs as Tesla topped US$1 trillion (RM4.15 trillion) in value. The benchmark Nikkei 225 index gained 1.09 per cent, or 312.84 points, to 28,913.25 in early trade, while the broader Topix index rose...
Source: malaymail - 🏆 1. / 86 Read more »
Asian stocks catch Wall Street cheer but China caps gains | Malay MailHONG KONG, Oct 26 ― Asian stocks inched higher today, as upbeat Wall Street earnings lifted the broader economic outlook though fresh worries about China's property sector hit Hong Kong and mainland markets. Japan's benchmark Nikkei average opened up 1.14 per cent today, while Australia's...
Source: malaymail - 🏆 1. / 86 Read more »
Tokyo stocks open lower with eyes on earnings | Malay MailTOKYO, Oct 27 — Tokyo stocks opened lower today on profit-taking after sharp rallies in the previous session, as investors closely watched this week’s corporate earnings. The benchmark Nikkei 225 index was down 0.16 per cent or 47.70 points at 29,058.31 in early trade, while the broader Topix...
Source: malaymail - 🏆 1. / 86 Read more »
Conventions group moots special business travel pass encompassing Malaysia, other countries | Malay MailGEORGE TOWN, Oct 25 — The International Congress and Convention Association (ICCA) Asia Pacific chapter has proposed that the Malaysian government work with several countries to develop a special pass for business travellers attending international conferences. The chapter’s chairman, Ashwin...
Source: malaymail - 🏆 1. / 86 Read more »