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Bonds Decline as Stocks Trade Near All-Time Highs: Markets Wrap
(Bloomberg) -- Government bonds slipped in most of the world as investors returned their focus to monetary policy and two major central bank decisions. Stocks edged up in Europe, U.S. index futures drifted and Asian shares were mixed as markets largely shrugged-off President Donald Trump’s impeachment.The Stoxx Europe 600 opened higher, with modest advances in most of the 19 industry sectors. Equities dipped in Tokyo, Sydney and Hong Kong while edged higher in Seoul. Stocks in China were unchanged after erasing the day’s losses as its central bank mounted another liquidity injection before a year-end cash squeeze. Ten-year bonds dipped from Japan to London alongside Treasuries.Global stocks are close to all-time highs and the U.S.-China trade accord announced Friday has yet to be signed, leaving traders struggling for reasons to bid up prices for risk assets. The Bank of Japan left monetary policy settings unchanged amid the thaw in trade tensions. The Bank of England is forecast to also leave interest rates unchanged when it announces a decision later on Thursday.“With the phase one trade deal, if anything markets are now reducing the prospect of political uncertainty and political risk heading into 2020,” Beverley Morris, director of rates and inflation at QIC Ltd., said. “We are not so sure. This is an election year and we are not so sure we’ve seen all that we are going to hear on the trade deal. We are preparing our portfolios for that insurance. We think it’s going to be a bumpy year ahead.“Elsewhere, Australia’s dollar climbed after job data for November beat forecasts. The pound rose after retreating the past two days amid renewed concern of a possible no-deal Brexit. Bitcoin held its bounce back above $7,000 after slumping to the lowest since May.Here are some key events to watch for this week:A policy decision is due Thursday from the Bank of England.Revised U.S. GDP data are due Friday.Friday also brings quadruple witching in the U.S., the simultaneous expiration date of stock index futures, stock index options, stock options and single stock futures. Expect elevated trading volume, particularly in the last hour of the session.These are the main moves in markets:StocksThe Stoxx Europe 600 Index gained 0.2% as of 8:20 a.m. London time.Futures on the S&P 500 Index were little changed.The U.K.’s FTSE 100 Index was steady.The MSCI Asia Pacific Index dipped 0.2%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.1%.The British pound advanced 0.3%.The euro gained 0.1% to $1.1128.The Japanese yen was little changed at 109.58 per dollar.The Australian dollar advanced 0.4% to 0.688 per dollar.BondsThe yield on 10-year Treasuries increased one basis point to 1.93%.Germany’s 10-year yield gained one basis point to -0.24%.Britain’s 10-year yield advanced two basis points to 0.792%.Australia’s 10-year yield jumped six basis points to 1.271%.CommoditiesWest Texas Intermediate crude was little changed at $60.90 a barrel.Gold was little changed at $1,475.78 an ounce.LME zinc gained 1.2% to $2,327.50 per metric ton.\--With assistance from Sophie Caronello.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Todd White in Madrid at twhite2@bloomberg.netTo contact the editor responsible for this story: Sam Potter at spotter33@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stocks-open-mixed-treasury-231735729.html?.tsrc=rss
(Bloomberg) -- Government bonds slipped in most of the world as investors returned their focus to monetary policy and two major central bank decisions. Stocks edged up in Europe, U.S. index futures drifted and Asian shares were mixed as markets largely shrugged-off President Donald Trump’s impeachment.The Stoxx Europe 600 opened higher, with modest advances in most of the 19 industry sectors. Equities dipped in Tokyo, Sydney and Hong Kong while edged higher in Seoul. Stocks in China were unchanged after erasing the day’s losses as its central bank mounted another liquidity injection before a year-end cash squeeze. Ten-year bonds dipped from Japan to London alongside Treasuries.Global stocks are close to all-time highs and the U.S.-China trade accord announced Friday has yet to be signed, leaving traders struggling for reasons to bid up prices for risk assets. The Bank of Japan left monetary policy settings unchanged amid the thaw in trade tensions. The Bank of England is forecast to also leave interest rates unchanged when it announces a decision later on Thursday.“With the phase one trade deal, if anything markets are now reducing the prospect of political uncertainty and political risk heading into 2020,” Beverley Morris, director of rates and inflation at QIC Ltd., said. “We are not so sure. This is an election year and we are not so sure we’ve seen all that we are going to hear on the trade deal. We are preparing our portfolios for that insurance. We think it’s going to be a bumpy year ahead.“Elsewhere, Australia’s dollar climbed after job data for November beat forecasts. The pound rose after retreating the past two days amid renewed concern of a possible no-deal Brexit. Bitcoin held its bounce back above $7,000 after slumping to the lowest since May.Here are some key events to watch for this week:A policy decision is due Thursday from the Bank of England.Revised U.S. GDP data are due Friday.Friday also brings quadruple witching in the U.S., the simultaneous expiration date of stock index futures, stock index options, stock options and single stock futures. Expect elevated trading volume, particularly in the last hour of the session.These are the main moves in markets:StocksThe Stoxx Europe 600 Index gained 0.2% as of 8:20 a.m. London time.Futures on the S&P 500 Index were little changed.The U.K.’s FTSE 100 Index was steady.The MSCI Asia Pacific Index dipped 0.2%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.1%.The British pound advanced 0.3%.The euro gained 0.1% to $1.1128.The Japanese yen was little changed at 109.58 per dollar.The Australian dollar advanced 0.4% to 0.688 per dollar.BondsThe yield on 10-year Treasuries increased one basis point to 1.93%.Germany’s 10-year yield gained one basis point to -0.24%.Britain’s 10-year yield advanced two basis points to 0.792%.Australia’s 10-year yield jumped six basis points to 1.271%.CommoditiesWest Texas Intermediate crude was little changed at $60.90 a barrel.Gold was little changed at $1,475.78 an ounce.LME zinc gained 1.2% to $2,327.50 per metric ton.\--With assistance from Sophie Caronello.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Todd White in Madrid at twhite2@bloomberg.netTo contact the editor responsible for this story: Sam Potter at spotter33@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stocks-open-mixed-treasury-231735729.html?.tsrc=rss
