NewsFeeder
Headline News
- Reaction score
- 3
Asia Stocks Rise with Bond Yields; Gold Languishes: Markets Wrap
(Bloomberg) -- Asian stocks advanced and benchmark Japanese bond yields inched toward an exit from negative territory as a risk-on mood permeated global financial markets.Gold is heading for its worst week since May 2017, back when the global economic narrative was all about synchronous growth. Japanese shares led gains in early Asian trading Friday, while U.S. futures were little changed after the S&P 500 Index notched another record high. Japanese 10-year government bond yields are heading for their biggest weekly climb since May 2013, the month the taper tantrum began. China’s offshore yuan is trading stronger than 7 per dollar.Behind the optimism: continued indications that the U.S. and China are heading toward an interim deal to halt the trade war. American and Chinese officials both said Thursday that a phase-one agreement would feature pledges to roll back tariffs on each others’ goods in phases.“Moving from a non-escalation to a de-escalation, which would be rolling back the tariffs, has got everybody excited,” Adam Taback, global head of alternative investments at Wells Fargo Investment Institute, told Bloomberg TV.Bonds have been the more notable mover than stocks this week. Ten-year yields in France and Belgium climbed back above 0% for the first time in months Thursday, while the German equivalent surged 10 basis points. Japanese 10-year rates are a few basis points away from zero.Here are the main moves in markets:StocksJapan’s Topix Index rose 0.7% as of 9:13 a.m. in Tokyo.South Korea’s Kospi gained 0.5%.Futures on the S&P 500 Index were little changed. The index rose 0.3% on Thursday to a record high.Hang Seng futures climbed 0.4% earlier.Australia’s S&P/ASX 200 Index rose 0.2%.BondsThe yield on 10-year Treasuries was at 1.93%, up more than 20 basis points for the week.Japanese 10-year yields ticked up to -0.038%.CurrenciesThe yen was at 109.36 per dollar.The offshore yuan traded at 6.9676 per dollar.The euro bought $1.1050.CommoditiesWest Texas Intermediate crude traded at $57.05 a barrel.Gold was at $1,466.82 an ounce, down more than 3% for the week.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-rise-trade-215148086.html?.tsrc=rss
(Bloomberg) -- Asian stocks advanced and benchmark Japanese bond yields inched toward an exit from negative territory as a risk-on mood permeated global financial markets.Gold is heading for its worst week since May 2017, back when the global economic narrative was all about synchronous growth. Japanese shares led gains in early Asian trading Friday, while U.S. futures were little changed after the S&P 500 Index notched another record high. Japanese 10-year government bond yields are heading for their biggest weekly climb since May 2013, the month the taper tantrum began. China’s offshore yuan is trading stronger than 7 per dollar.Behind the optimism: continued indications that the U.S. and China are heading toward an interim deal to halt the trade war. American and Chinese officials both said Thursday that a phase-one agreement would feature pledges to roll back tariffs on each others’ goods in phases.“Moving from a non-escalation to a de-escalation, which would be rolling back the tariffs, has got everybody excited,” Adam Taback, global head of alternative investments at Wells Fargo Investment Institute, told Bloomberg TV.Bonds have been the more notable mover than stocks this week. Ten-year yields in France and Belgium climbed back above 0% for the first time in months Thursday, while the German equivalent surged 10 basis points. Japanese 10-year rates are a few basis points away from zero.Here are the main moves in markets:StocksJapan’s Topix Index rose 0.7% as of 9:13 a.m. in Tokyo.South Korea’s Kospi gained 0.5%.Futures on the S&P 500 Index were little changed. The index rose 0.3% on Thursday to a record high.Hang Seng futures climbed 0.4% earlier.Australia’s S&P/ASX 200 Index rose 0.2%.BondsThe yield on 10-year Treasuries was at 1.93%, up more than 20 basis points for the week.Japanese 10-year yields ticked up to -0.038%.CurrenciesThe yen was at 109.36 per dollar.The offshore yuan traded at 6.9676 per dollar.The euro bought $1.1050.CommoditiesWest Texas Intermediate crude traded at $57.05 a barrel.Gold was at $1,466.82 an ounce, down more than 3% for the week.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-rise-trade-215148086.html?.tsrc=rss
