Bond yields climbed and stock markets held firm on Wednesday, as hopes of easing...
TOKYO - Bond yields climbed and stock markets held firm on Wednesday, as hopes of easing U.S.-China tensions and diminished risk of a no-deal Brexit prompted buying of out-of-favor value stocks before key central bank meetings.
Stock investors around the world sustained their rotation into value stocks, representing a major reversal after many months of outperformance by growth shares such as tech companies. On Wall Street, the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favoring value over growth. [.N/C]
“Global bond markets are experiencing so-called momentum crashes,” said Masanari Takada, cross-asset strategist at Nomura Securities, referring to a sudden and dramatic change in the direction of asset prices.U.S. bond yields jumped on Wednesday, with the 10-year Treasuries yield rising more than 10 basis points to a one-month high of 1.745%.
Investors had bought bonds for many weeks on expectations that the ECB will dole out stimulus, with a cut in interest rates of at least 10 basis points fully priced in. Oil prices rose on Wednesday after an industry report showed that crude stockpiles in the United States fell last week by more than twice the amount that analysts had forecast. Prices hovered near their strongest in six weeks despite small losses on Tuesday after U.S. President Donald Trump fired national security adviser John Bolton.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bond yields, stock prices supported ahead of central bank meetingsAsian stock markets held firm and bond yields rose on Wednesday as hopes of dimi...
Read more »
Japan's Abe to draft rising star Koizumi in broad cabinet reshuffle: mediaJapanese Prime Minister Shinzo Abe will draft the son of ex-premier Junichiro Ko...
Read more »
U.S. corporate bond, IPO markets heat up as recession fears persistCorporate America appears to be rushing to get the most out of the decade-long b...
Read more »
Japan's Abe drafts rising star Koizumi, allies in broad cabinet reshuffleThe spectacular appointment as environment minister of the telegenic Shinjiro Koizumi, the 38-year-old son of much-loved former PM Junichiro Koizumi, set tongues wagging in Tokyo political classes as the Abe era draws to a close.
Read more »
Piers Morgan rants about 'changing James Bond to a damn woman'Speaking on British TV show 'Good Morning Britain,' Morgan said 'The campaign to save James Bond starts right here, because they are not changing James Bond to a damn woman on my watch.'
Read more »