Tokyo — Asian stocks followed Wall Street lower and bond yields remained depressed on Thursday as investors weighed the risks of global recession amid hawkish Federal Reserve rhetoric and uncertainty about the Bank of England’s commitment to stabilising markets.
MSCI’s broadest index of Asia-Pacific shares sank 0.54%, languishing close to Wednesday’s two-and-a-half-year low. US long-term treasury yields languished near the lows of the past two days, little changed at 3.9227% in Tokyo trading.
Markets lay 90% odds for another 75 basis-point rate hike in November, vs 10% probability of a half-point bump.Wednesday’s minutes were “not the dovish pivot some market participants are looking for,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, wrote in a client note.The Fed’s latest policy meeting showed many officials ‘emphasised the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action’.
But the dollar was little changed vs sterling, which had rebounded strongly from a two-week trough of $1.0925 on Tuesday. It last traded at $1.1086.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks reach two-year low, dollar bites yen and poundMSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.87%, while the Nikkei share average fell 0.18%
Source: BDliveSA - 🏆 12. / 63 Read more »