{
  "id": 11352677,
  "title": "Asian shares fall after wild bond, FX swings ahead of US jobs data",
  "url": "https://urgent.news/2026/10/02/asian-shares-fall-after-wild-bond-fx-swings-ahead-of-us-jobs-data-11352677",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T02:50:04.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/02/asian-shares-fall-after-wild-bond-fx-swings-ahead-of-us-jobs-data"
  },
  "original_language": "en",
  "account": "Asian stocks plummeted on Friday amid volatile bond and currency market movements preceding crucial US labor data, while escalating military presence in the Gulf kept oil prices at elevated levels. Bond markets remained the focal point of instability, with the benchmark 10-year US Treasury yields peaking at 5.34% since 2002, following a record 32-year high. They later stabilized at 5.2512% in Asia. Fiscal concerns in France widened the gap between French and German sovereign bond yields above 140 basis points, the highest since 2012, unsettling European equities and pressuring the euro. The single currency plummeted to as low as US$1.1215, its lowest point since May 2025, and depreciated versus the yen and the Swiss franc. MSCI's overall index of Asia-Pacific shares outside Japan declined 0.5%, setting up a weekly slide of 1.7%. Japan's Nikkei fell 0.7%, but was projected to recover 3.1% for the week. Mainland Chinese markets were on holiday until next Wednesday. Futures on the Nasdaq surged 0.3%, while S&P 500 futures edged up 0.1% following the Treasury yield retreat, aiding Wall Street's late rally. All attention is on the US nonfarm payrolls announcement later in the day. Forecasts anticipate a 90,000 job increase in September, with the unemployment rate expected to stay flat at 4.1%. Focus will be on hourly earnings following the ISM survey revealing a sharp increase in prices, signaling heightened cost pressures. Fed officials are now fixated on inflation and price pressures, and a strong wage report could significantly impact US interest rates, Treasuries, and the USD. Chris Weston, head of research at Pepperstone, noted that risk assets have so far managed the surge in US real yields, but a persistent surge in term premium could pose more significant challenges. Markets currently anticipate a 25% chance of a Fed rate hike in October, down from 69% a week earlier after two top policymakers emphasized the need for more data before deciding on interest rates. However, a rate increase in December remains fully priced in. European woes Dovish remarks from Fed officials spurred a significant rally in 2-year Treasuries overnight, with the yield curve steepening as short-end yields fell. The 2-year yield rose 1 basis point to 4.8039%, after declining 10 basis points overnight. The 10-year Treasury yield climbed 2 basis points to 5.2575%, rebounding from a 24-year high of 5.3445% as investors returned to the market after a massive sell-off. The sharp decline in European bonds, with French yields reaching 14-year highs, may have encouraged safe-haven flows to US Treasuries, the dollar, and the Swiss franc. The US dollar index, gauging the currency against six peers including the euro and franc, stood firm at 102.09 on Friday, having risen 0.6% overnight to hit its highest level since April 2025. Gains are expected for the third consecutive week, up 1.1%. The euro weakened to US$1.1235, falling 0.8% overnight, and also dropped against the yen and the franc, down 0.8% and 1%, respectively. The yen rose to 158.13 per dollar after Japan's underlying inflation accelerated to 2.7% in September, supporting the case for further rate hikes. Oil prices held steady on Friday after gaining overnight, with US West Texas Intermediate crude trading at US$92.84 a barrel, up nearly 3% from the previous day. Brent crude futures remained above US$102 a barrel after rolling over.",
  "summary": "US nonfarm payrolls and hourly earnings will be closely watched after a survey showed huge jump in prices paid, pointing to more cost pressures.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
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        "url": "https://urgent.news/2026/10/02/south-korea-brings-powerful-prosecution-agency-to-heel",
        "published": "2026-10-02T01:30:23.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Asian shares fall after wild swings in bonds, FX before US jobs data",
        "url": "https://urgent.news/2026/10/02/asian-shares-fall-after-wild-swings-in-bonds-fx-before-us-jobs-data",
        "published": "2026-10-02T02:12:31.000Z"
      },
      {
        "outlet": "RTHK News - Finance",
        "title": "HK stocks fall amid bond swings, wait for US jobs data",
        "url": "https://urgent.news/2026/10/02/hk-stocks-fall-amid-bond-swings-wait-for-us-jobs-data",
        "published": "2026-10-02T02:34:45.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "South Korea, Japan stocks slide as Asian shares fall, bonds in focus after rally",
        "url": "https://urgent.news/2026/10/02/south-korea-japan-stocks-slide-as-asian-shares-fall-bonds-in-focus",
        "published": "2026-10-02T02:42:59.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Asian shares fall after wild swings in bonds, FX before US jobs data",
        "url": "https://urgent.news/2026/10/02/asian-shares-fall-after-wild-swings-in-bonds-fx-before-us-jobs-data-11341788",
        "published": "2026-10-02T02:48:19.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Asian shares fall after wild bond, FX swings ahead of US jobs data",
        "url": "https://urgent.news/2026/10/02/asian-shares-fall-after-wild-bond-fx-swings-ahead-of-us-jobs-data",
        "published": "2026-10-02T02:50:04.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Asian stocks drop as oil spike fans rate hike bets, eyes on US jobs",
        "url": "https://urgent.news/2026/10/02/asian-stocks-drop-as-oil-spike-fans-rate-hike-bets-eyes-on-us-jobs",
        "published": "2026-10-02T03:55:44.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Asian shares fall after wild swings in bonds, currency markets before US jobs data",
        "url": "https://urgent.news/2026/10/02/asian-shares-fall-after-wild-swings-in-bonds-currency-markets-before",
        "published": "2026-10-02T04:15:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}