Asian bonds tracked a selloff in U.S. and European debt, and the euro fluctuated amid wrangling over whether Greece will qualify for further aid. Asian stocks slipped and emerging-market currencies dropped.
Yields on 10-year government notes in Japan and Australia climbed at least five basis points by 12:28 p.m. in Tokyo, while benchmark Treasury rates held near their highest this year. The MSCI Asia Pacific Index lost 0.5 percent as Chinese shares in Hong Kong fell. Standard & Poor’s 500 Index futures were little changed. The euro was little changed and a gauge of Asian developing-nation currencies fell to a four-week low.
Overblown expectations for the European Central Bank’s quantitative easing plan pushed global debt valuations to extreme levels, triggering a “large and vicious” selloff in European bonds that’s infected other markets, according to Goldman Sachs Group Inc. Greece has readied a repayment to the International Monetary Fund, officials said, as the ECB prepared to reassess emergency funding for the country’s banks.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015