Asian stocks, bonds to slide on inflation jitters
The yen, near a three-week low, will be in focus
Asian stocks and bonds are expected to decline on Thursday (Sep 24) as Wall Street losses and inflation concerns drive investors to reassess policy tightening. The yen is near a three-week low and will be closely watched when Japanese markets reopen. New Zealand and Australian government bonds fell, mirroring moves in US Treasuries.
Equity-index futures for Hong Kong and Australia pointed to lower prices, while US equity futures remained relatively stable after the S&P 500 and Nasdaq 100 dropped. South Korean markets remained closed. US oil prices rose after crude jumped 3.9% to $103.08 a barrel. 10-year Treasury yields surged 15 basis points to 5.11%, the highest one-day increase since 2007, while the US dollar strengthened against major currencies.
Higher energy costs coupled with a robust US economy are expected to keep pressure on bonds and equities, as investors scrutinize upcoming Fed rate decisions.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
