Stocks shaken by US recession fears, bonds price for rate cuts

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

United States News News

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

SYDNEY : Major share indices were deep in the red in Asia on Monday as fears the United States could be heading for recession triggered mass risk aversion and wagers interest rates will have to fall sharply, and quickly, to support growth.

A man looks at an electronic stock quotation board outside a brokerage in Tokyo, Japan August 2, 2024. REUTERS/Issei Kato/File Photo

Two-year yields sank 50 basis points last week and could soon slide below 10-year yields, turning the curve positive in a way that has heralded recessions in the past. Investors will get a read on employment in the service sector from the ISM non-manufacturing survey due later Monday and analysts are hoping for a rebound to 51.0 after June's unexpected slide to 48.8.

The Swiss franc was a major beneficiary of the rush from risk, with the dollar near six-month lows at 0.8586 francs.

 

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:

 /  🏆 6. in US

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.

After Income-Allianz deal, more consolidation could come for Singapore’s insurance industry: AnalystsGlobal investors are interested in Singapore and Southeast Asia, says one market observer.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

European tech stocks fall to six-month low, join in global sell-offLONDON : European technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor stocks following disappointing earnings from Intel. The STOXX Europe 600 technology index was last down 3.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »