Tech stocks rally as Treasury yields, oil retreat
The Nasdaq gained 0.4% on Tuesday, recovering some ground after a broad selloff sent the Dow down more than 300 points the day before
Citi Research has turned bullish on China's 30-year government bonds, projecting that yields will fall further even as US Treasury yields climb. Analysts at the bank recommended investors go long on China's 30-year sovereign debt, expecting the yield to fall towards 1.8 per cent while the 10-year yield could edge towards 1.6 per cent.
The outlook is attributed to easing supply pressures and improved market dynamics for China's ultra-long government bonds heading into the fourth quarter, with China's recently announced 360-billion-yuan recapitalisation plan for major financial institutions potentially boosting duration demand.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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