Asian shares rise, Treasury yields near multi-decade highs, euro pressured
Asian stocks rose on Tuesday after a tech-fuelled rally lifted the Nasdaq to a record close, with a retreat in oil prices offering further support even as longer-dated Treasury yields hovered near multi-decade highs. The euro languished near 17-month lows after briefly touching $1.116 overnight, pressured by mounting fiscal concerns in France.
2% Oil prices steady after overnight retreat, euro pressured Longer dated Treasury yields near multi-decade highs By Stella Qiu SYDNEY, Oct 6 (Reuters) — Asian stocks rose on Tuesday after a tech-fuelled rally lifted the Nasdaq to a record close, with a retreat in oil prices offering further support even as longer-dated Treasury yields hovered near multi-decade highs. 116 overnight, pressured by mounting fiscal concerns in France. Investors dumped French government bonds after an underwhelming budget, while political uncertainty deepened after Spanish Prime Minister Pedro Sanchez called a snap election.
9% overnight as exports from the Middle East increased and the Group of Seven nations pledged to boost supplies. 7%. 5%. 1%.
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Latin American markets also climbed, led by a rally in Brazilian stocks and the real currency, after right-wing Senator Flavio Bolsonaro outperformed poll predictions in the first round of the presidential election and advanced to a runoff against leftist incumbent Luiz Inacio Lula da Silva. Bond Rout Persists The relentless climb in Treasury yields continued even as markets scaled back bets for an interest rate rise this month from the Federal Reserve to just 23% from 71% a week ago, after top policymakers stressed the need for more data before tightening again.
US 10- and 30-year Treasury yields hit fresh 24-year highs overnight, capping a steady climb since mid-August driven by inflation and debt concerns. An ISM survey showed a measure of prices paid by services businesses for inputs jumped to the highest level in more than four years. 7029% overnight. The selloff in French bonds calmed a little, with the premium investors demand to hold French 10-year bonds over safer German debt narrowing to 137 basis points on Monday.
116 overnight, its weakest since May 2025. It traded at 177 yen, having been down for seven straight sessions, around the lowest since November last year. "Deep divisions in France’s parliament raises the risk that the proposed fiscal consolidation is diluted or that the government faces a no-confidence vote," said Joseph Capurso, head of international economics at the Commonwealth Bank of Australia. 9%.
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