Global Market Today: Asian stocks follow Wall St lower
Asian bonds declined and the dollar remained under pressure after a rally in Treasuries faded, with investors betting that US efforts to contain borrowing costs through buybacks may offer only a temporary reprieve.
Bonds in Australia and New Zealand opened lower after 30-year US bond yields rose Thursday even as Treasury Secretary Scott Bessent flagged scope for larger debt buybacks and an upcoming fiscal plan. The yield climbed six basis points to close the session at 5.25%, recouping most of the decline sparked by the Treasury’s surprise decision to increase buybacks of long-dated bonds. The 10-year yield erased its losses to close at 4.70%.
Bonds in Australia and New Zealand opened lower after 30-year US bond yields rose Thursday even as Treasury Secretary Scott Bessent flagged scope for larger debt buybacks and an upcoming fiscal plan. The yield climbed six basis points to close the session at 5.25%, recouping most of the decline sparked by the Treasury’s surprise decision to increase buybacks of long-dated bonds. The 10-year yield erased its losses to close at 4.70%.
Next Story