Stocks cautious in Asia as oil gains, yields rise
Oil climbed and bond yields rose as traders weighed U.S.-Iran tensions and higher odds of another Federal Reserve rate hike, analysts said.
- Asian share markets made a cautious start on Monday as oil prices popped higher amid doubts the United States and Iran will reach a truce, keeping bonds under pressure.
- Yields on 30-year Treasuries nudged up to 5.5185 per cent, near their highest levels since 2004, having climbed 27 basis points just this month.
- Markets imply a 66 per cent chance the Federal Reserve will hike rates in October, with the September payrolls report forecast to show a gain of 85,000 jobs.
- President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, pushing Brent crude prices up 1.6 per cent to trade above $106 a barrel.
- Global expansion has entered a period of strength rarely seen in two decades, according to Bruce Kasman, chief economist at JPMorgan, though high interest rates remain a key concern.
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64 Articles
At 06:15, the price of the North Sea Brent barrel, the world market reference, rose 3% to $107.45.
Daily Record
Asian benchmarks are mixed despite Wall Street's rally finish last week
Asian shares are trading mixed Monday after a cooldown in oil prices last week helped U.S. stock close out their first winning week in the last three. Benchmarks rose in Monday trading in Australia and China, while falling in South…
Skeptical bags in Asia and the Pacific on a resumption of negotiations between the US and Iran with the mediation of Qatar after US President Donald Trump said he "win the war in Iran very soon." Tokyo sold 0,73% and Seoul 2,7%. (ANSA)
After Friday's US rise, the week starts cautiously on the stock markets: The picture is mixed in Asia, but European futures indices indicate an increase. The worsening chances of a ceasefire in the Middle East have pushed up the price of oil again, while high bond yields are also keeping the markets under pressure. This week, investors are paying attention to US inflation and labor market data, which may provide further clues for the Fed's next …
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