Treasury yields in focus after hot inflation reading

Short-term US Treasury yields continued to climb higher on Wednesday as investors digested the previous session’s dramatic market route triggered by a hot inflation reading. The yield on the 2-year Treasury, the part of the curve most sensitive to Fed policy, was trading roughly 2 basis points higher at around 11:00 am ET to reach … Read more

2-year Treasury yield rockets above 3.78%, highest since 2007

US Treasury yields shot higher on Tuesday as investors bet that a hot inflation reading will keep the Federal Reserve aggressive in tightening monetary policy. The yield on the 2-year Treasury, the part of the curve most sensitive to Fed policy, soared 21 basis points to 3.783%, hitting its highest level since November 2007. Yields … Read more

The powerful family in the middle of Sri Lanka’s economic crisis

Who are the Rajapaksas, and why do analysts say the powerful political family is to blame for Sri Lanka’s economic mess? In July 2022, Sri Lankan citizens stormed and occupied the republic’s presidential palace after months of demonstrations. The protesters had one main demand: for the country’s then-president Gotabaya Rajapaksa to resign. The protests came … Read more

Fed expected to stick with hawkish interest rate hikes, strategists say

The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the US could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the previous month, compared with an estimate of a 0.2% gain, according to … Read more

Japan’s Nikkei 225 up more than 2%

SINGAPORE — Japan stocks surged on return to trade, while shares in the Asia-Pacific were mostly lower on Friday following strong gains in the previous session as investors digested the US inflation report. The Nikkei 225 jumped 2.15%, while the Topix index rose 1.86%. Japanese markets were closed Thursday for a holiday. In Australia, the … Read more

Hong Kong, South Korea stocks up more than 1%

SINGAPORE — Asia-Pacific markets climbed on Thursday after a better-than-expected inflation report in the US sent stocks spiraling higher. Australia’s S&P/ASX 200 rose 0.97%. The Kospi in South Korea was 1.32% higher and the Kosdaq jumped 1.31%. Hong Kong’s Hang Seng index advanced 1.19%, with the Hang Seng Tech index rising 1.66%. We doubt very … Read more

Stocks fall, China consumer inflation rises

SINGAPORE — Asia-Pacific shares fell on Wednesday as investors digest inflation data from China and look ahead to the US CPI report. Hong Kong’s Hang Seng index fell 2.29% in the final hour of trade, with the Hang Seng Tech index down 3.43%. Heavyweights Meituan and fell 4.6% and 5.34% respectively. Heath care, consumer … Read more

Stocks trade lower; SoftBank drops

SINGAPORE — Shares in the Asia-Pacific were lower Tuesday on a quiet data day as markets continue to digest last week’s stellar US jobs report. SoftBank Group’s stock fell more than 4% after its Vision Fund reported a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter on Monday after the market close. … Read more

‘Echoes of the Cold War’ as Blinken heads to Africa, vying with Russia for influence

PRETORIA, South Africa, August 8, 2022: South Africa’s Foreign Minister Naledi Pandor (R) and Secretary of State Antony Blinken (L) attend a strategic dialogue opening session meeting at the South African Department of International Relations and Cooperation. ANDREW HARNIK/POOL/AFP via Getty Images US Secretary of State Antony Blinken arrived in South Africa on Monday to … Read more

China trade data, SoftBank earnings, currencies, oil

SINGAPORE — Futures in the Asia-Pacific pointed to a lower open Monday, with SoftBank set to report earnings after the market close. The Nikkei futures contract in Chicago was at 28,045 while its counterpart in Osaka was at 28,110. That compares against the Nikkei 225’s last close at 28,175.87. In Australia, SPI futures were at … Read more