Rising bond yields and weak US data weigh on Asian stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

United States News News

Asian stocks retreat from record highs as the number of Americans seeking jobless benefits rise

Sydney — Asian stocks pulled back from all-time peaks on Friday as higher longer-dated bond yields and underwhelming US data dented investor confidence in a faster economic recovery from the Covid-19 pandemic, while gold hit a seven-month trough.

Core bond yields have pushed higher globally led by the so-called “reflation trade” where investors wager on a pickup in growth and inflation. Successful coronavirus vaccine rollouts so far and hopes of huge fiscal spending under US President Joe Biden have spurred reflation trades. While rising yields weighed on investor sentiment, “disappointing US jobless figures didn’t help the cause either,” Catril added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines