U.S. stocks are reversing a Tuesday start in the red and now trading higher as investors think through the implications of the Bank of Japan’s surprise announcement to put a higher ceiling on government bond yields.Stocks fell for a fourth straight session on Monday. The Nasdaq Composite was down 6.3% over that stretch, and has retreated 32.6% so far this year.
The Bank of Japan had been a supportive outlier of late having maintained rates at the zero lower bound while others embarked on their biggest tightening cycle in a generation, noted Henry Allen, strategist at Deutsche Bank. The 10-year U.S. Treasury yield TMUBMUSD10Y, 3.683% stood at 3.682% as the equivalent maturity Japanese government bond TMBMKJP-10Y, 0.417% climbed to 0.418%.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Today: Stock Futures Wobble; Yen Surges on Bank of Japan ShiftBond yields jumped and the yen surged after the Bank of Japan surprised markets by loosening its yield-curve control policy The interest rate on a 10-year US Treasury overlayed with the price of $1 US in Japanese Yen. economy $EWJ $HEWJ $FLJP $FLJH
Source: WSJ - 🏆 98. / 63 Read more »
Asian Stock Market: Bears cheer Bank of Japan moves to trace Wall Street's lossesEquities in the Asia-Pacific region copy Wall Street’s move, despite an upbeat start, as the Bank of Japan (BOJ) inflicted losses in the stocks and bo
Source: FXStreetNews - 🏆 14. / 72 Read more »
Cannabis stocks fall as SAFE Banking measure officially fails; some stocks gainThe AdvisorShares Pure US Cannabis ETF undefined dipped 2.8% as failure of the SAFE Banking measure to be included in Congress's omnibus spending bill... In the US you can drink a bottle of Bourbon, launder some money through cryptos, then go shoot nuts with a machine gun....but you can't smoke a plant....Time for anarchy R.I.P to all those people who bought Cannabis penny/cheap stocks hoping for a big payday.
Source: MarketWatch - 🏆 3. / 97 Read more »
U.S. stocks open mixed after Bank of Japan's surprise policy tweakU.S. stock indexes opened mixed on Tuesday after the Bank of Japan stunned markets with an unexpected change to its controversial yield curve control policy,...
Source: MarketWatch - 🏆 3. / 97 Read more »