US Treasury yield hits 19-year high, Japanese yen strengthens: the numbers moving markets
China’s buoyant stock market lifted brokers’ earnings in the first half, while Hong Kong saw continued growth in retirement assets. Beyond China, a strengthening yen and Washington’s Treasury buy-back programme highlighted shifting dynamics in global currency and bond markets. Here are some of the figures that have drawn the most market attention this week. Chinese brokerage revenue jumps more…
A strong Chinese brokerage sector drove revenue to new heights, increasing by more than 50 percent in the first half of the year. Simultaneously, Hong Kong's Mandatory Provident Fund (MPF) amassed an impressive HK$1.67 trillion in assets by the end of June. Meanwhile, the Japanese yen surged to a seven-month high of 153.63 per US dollar, reflecting expectations of tighter monetary policy from the Bank of Japan.
The US 30-year Treasury yield peaked at an 19-year high of 5.37 percent, as global bond sell-offs and concerns over inflation and government debt intensified. Despite the US Treasury's efforts to support the market with a $5.2 billion bond buyback, the 10- to 20-year bond yield rose to around 4.95 percent. The European Central Bank (ECB) also made headlines by raising interest rates by 25 basis points, bringing its benchmark deposit rate to 2.5 percent.
The ECB cited ongoing inflation above its 2 percent target as a reason for the rate hike, projecting headline inflation to average 3 percent this year and 2.5 percent in 2027.
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Also reported by 3 other outlets
- US Treasury yield hits 19-year high, Japanese yen strengthens: the numbers moving markets scmp.com
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