Asian shares fall as oil rises and Treasury yields climb
Major Asian, US and European stock indexes were lower, while bonds and the dollar were mixed. The report also showed Brent crude higher and gold at a more than seven-week low.
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Major Asian, US and European stock indexes were lower, while bonds and the dollar were mixed. The report also showed Brent crude higher and gold at a more than seven-week low.
Major stock indexes fell, with the MSCI world gauge down 0.83%, as oil prices resumed their rise and Treasury yields extended gains. Spot gold dropped 3.5% to a more than seven-week low.
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Ethereum (CRYPTO: ETH) price briefly surged to its highest level since January 31, as the crypto market remained resilient amid the escalating crisis in the Middle East and rising odds that the Federal Reserve will cut interest rates next week. ETH has formed key bullish patterns, pointing to further upside as ETF infl
U.S. 10-year Treasury yields touched 4.80%, with global bond yields also at multi-decade highs, and Nasdaq tech shares sold off Tuesday. QQQ fell 1%, while CRWD, ALAB, LITE, AXON and TER all dropped more than 5%.
The U.S. Treasury will raise liquidity-support buybacks for long-dated bonds to at least $4 billion per operation from $2 billion, effective Sept. 9 through Nov. 4.
U.S. stock futures are slightly mixed Monday as investors weigh a retail earnings-heavy week, elevated bond yields and shifting Federal Reserve expectations.
The U.S. sold $25 billion of new 30-year bonds at 5.216%, the highest financing cost for that tenor since 2001, while iShares 20+ Year Treasury Bond ETF TLT traded at $81.90, its lowest since June 2004.
The US 30-year bond high-yield rate prints at 5.216%, versus a previous 5.058%; no forecast was provided.