US TREASURY MARKET
Wall Street Week Ahead: Expected US rate cuts have investors looking beyond big tech
Looming U.S. interest rate cuts are challenging investors to choose between continuing to invest in high-performing Big Tech stocks or diversifying into less favored market areas that could benefit from easing monetary policy. Recent market movements suggest a potential shift, as small caps and economically sensitive sectors show gains amid expectations of lower rates, while tech stocks face declines reminiscent of the late 1990s dot-com bubble.
Rupee ends little changed, forward premiums nudge higher
The Indian rupee closed almost unchanged against the U.S. dollar, with state-run bank bids and offers keeping the currency in a narrow range.
South Korean stocks rise ahead of US jobs data
South Korean KOSPI up 0.67%, driven by U.S. jobs data, Federal Reserve rate cut hopes. Samsung, SK Hynix up; LG Energy Solution down. Samsung forecasts high Q2 profit. Won appreciated, bond yields fell; Foreigners bought 411.6 billion won. Hyundai Motor flat, Kia down, Naver, Kakao up. Offshore, won at 1,378.3. Three-year treasury bond yield fell by 1 bp.
Samvardhana Motherson raises $350 million via bonds
The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.
Yen hits 38-year low, Nikkei surges as Trump risk buoys US yields
In a sensational turn of events, the U.S. dollar skyrockets to a 38-year high against the yen amidst speculation of a Trump comeback. The Nikkei soars past 40,000, while oil prices surge at the beginning of the summer driving season. Sterling and the Chinese yuan weaken, with all eyes on the Federal Reserve and upcoming job data.
India bond yields may see further uptick as US peers jump
Indian bond yields expected to increase amidst renewed Treasuries selloff. Benchmark 10-year yield likely to stay within 6.99%-7.03% range. U.S. yields rising, with expectations of a 46 bps rate cut by the Fed in 2024.
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Dollar soars near 38-year yen peak as Trump risk lifts US yields
Dollar nears 38-year high to yen amid Trump re-election speculations, Biden's debate influence expected, ECB event in focus.
US yields lift dollar and leave yen languishing
Market anticipation grows for potential Australian interest rate hikes, with ING economist Rob Carnell leaning towards forecasting a hike at the August meeting.
Jobs, inflation data may break the US Treasury market out of narrow range
Bond market trends are closely tied to Powell's testimony, economic indicators, and Treasury yield movements. Factors like the recent Australia inflation rebound, central bank actions, and insights from Macquarie Group are key considerations for investors navigating market uncertainties.
Asia stocks down, yen slump keeps markets on intervention alert
Asian shares fell on inflation worries, pushing bond yields higher. The yen's decline raised intervention fears. The dollar surged against major currencies. Markets reacted to unexpected inflation hikes. Uncertainties in commodity markets added to the jittery mood.
Asia stocks down, yen slump keeps markets on intervention alert
Inflation concerns impact markets worldwide, driving bond yields up and Asian shares down. Currency markets watch as the yen weakens, prompting fears of intervention. Unexpected jumps in inflation in Australia and Canada add to market nerves before the Federal Reserve's upcoming data release.
Battered yen pinned near multi-decade low amid resilient dollar
U.S. Treasury yields drive market dynamics as the yen weakens, impacting global currencies. Analysts await U.S. PCE data for potential Japanese intervention, while political uncertainties in Europe add to market volatility. Higher U.S. yields influence bond markets globally, affecting currencies like Sterling and Antipodean currencies against a strong dollar.
Gold flat as dollar, yields firm; investors seek more US data
Amid economic indicators and central bank actions, market focus extends to U.S. housing data, French employment stats, and Fed rate cut forecasts, influencing gold price dynamics.
Rupee trades in narrow range against US dollar in early trade
The rupee traded against the US dollar, influenced by positive domestic equities and the strength of the American currency. Forex traders noted the impact of the strong US dollar and elevated crude oil prices on the local unit.
Diversifying Forex Reserves: RBI bought gold sold securities in April
The value of India’s – essentially the Reserve Bank of India’s – US treasury securities dipped $ 7.1 billion in April to take the value of outstanding US treasury securities’ exposure to $233.5 billion, according to the data released by the US treasury department late on Tuesday.
Gold gains as soft US data lifts Fed rate cut bets
Gold prices rose on Tuesday following softer-than-expected U.S. retail sales data, boosting hopes of Federal Reserve rate cuts. Spot gold and U.S. gold futures also increased, influenced by lower Treasury yields and the declining dollar.
Gold slips on higher treasury yields, US Fed speakers on tap
Gold prices slipped on Monday due to higher Treasury yields. Investors await US data and comments from Federal Reserve officials for monetary policy cues.
Further decline in US bond yields pushes Indian peers lower
Indian government bond yields fell as U.S. Treasury yields dropped on rate cut expectations. India's 10-year yield was at 6.9779% by 10:00 a.m. IST.
Rupee opens on flat note against US dollar in early trade
The 30-share BSE Sensex and NSE Nifty experienced slight declines, reflecting market movements. Moody's Ratings forecast India to maintain its position as the fastest-growing economy in the Asia-Pacific region.
Asia stocks rally as rate cut bets gather momentum; ECB in focus
Asian shares rose on Fed rate cut expectations and ECB meeting. Oil prices climbed, Treasury yields fell. Asia-Pacific shares outside Japan gained 1.14%, led by tech stocks.
Yields pare losses as services sector rebounds
The business activity index is "really driving that whole index higher," said Ellis Phifer, managing director of fixed income research at Raymond James in Memphis, Tennessee.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
US stocks slip in choppy trading after weaker jobs data
Oil companies Exxon Mobil and Chevron dropped 2.3% and 1.5%, respectively, as demand concerns weighed on crude prices. Energy stocks led S&P 500 sectoral declines with 1.5% fall. Small-cap stocks, typically more sensitive to economic expectations, declined 1.2%, while the rate-sensitive real estate sector gained 0.9%.
Asian shares retreat as investors question US economic strength
Asian share markets weakened as U.S. economy's 'exceptionalism' unravels with weakening manufacturing activity. MSCI's Asia-Pacific index down 0.1%. U.S. Treasury yields fall after weak manufacturing data. Westpac economist Coombs sees market pricing 40 basis points rate cuts by 2024.
ET Explains: Why RBI keeps gold abroad?
The Reserve Bank of India (RBI) has been aggressively buying gold this year, purchasing one and a half times the amount bought in the whole of 2023 in just the first four months of this calendar year. A big portion of this gold is held overseas, but the RBI is now planning to bring back a portion of these reserves. This move comes amid risks following the West freezing Russian assets. The RBI holds 822.10 metric tonnes of gold, with 387.26 metric tonnes kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
Dow slides 1% as bond market pressure eases after cooler economic data
The S&P 500 traded 0.2% lower and the Nasdaq composite dropped 0.3%. Yields fell on Thursday after a couple of reports showed the U.S. economy isn’t quite as strong as expected. The hope on Wall Street is that the economy can cool down, but not too much so that the Federal Reserve can hit a precise landing where it gets high inflation under control without causing a bad recession.
Dollar ascendant as surging US yields spur demand for safe havens
The dollar surged to a two-week high against major peers on Thursday due to a rout in Treasuries, boosting its appeal with higher U.S. yields and demand for safe haven assets.
Wall Street ends lower amid rate concerns, higher bond yields
Stocks declined following the Beige Book release, showing U.S. economic expansion and reduced rate cut expectations, per CME FedWatch Tool.
Bond yields climb, stocks under pressure as Fed cut doubts resurface
U.S. Treasury yields rose, impacting global markets. Crude oil climbed ahead of the OPEC+ meeting. Improved U.S. consumer confidence added uncertainty to Fed rate cut expectations.
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