TREASURIES RALLY, ASIA BOUNCES
US Treasury buybacks are giving global markets a boost, pushing bond yields lower and lifting Asian stocks.
Bond yields slide
- US 30-year yield fell to 5.18%
- 10-year Treasury yield eased to 4.63%
- Japan and Australia bond yields also moved lower
Asia fights back
- MSCI Asia Pacific index rose 1.4%
- South Korea’s Kospi jumped 5.8%
- Japan’s Topix gained 0.9%
- Hong Kong and Shanghai also moved higher
Chip stocks roar back
- SK Hynix surged 12% after announcing a massive share buyback
- Samsung Electronics jumped 9% on reports of a major shareholder return program
Dollar loses its edge
The dollar steadied after hitting a three-month low as falling Treasury yields weaken the rate advantage that had supported the greenback.
Oil keeps climbing
Brent crude rose for a fifth straight day to around $92 a barrel as Middle East tensions add to inflation concerns.
Crypto gets a boost
- Bitcoin climbed to around $69,000
- Ether rose 1.5%
Corporate watch
- Marvell gives Google rights to buy up to $12.2B of its shares tied to chip purchases
- Estée Lauder beats estimates as its turnaround gains momentum
- CK Hutchison seeks more than $1.5B from Panama in an arbitration fight
The bigger market battle
Treasury buybacks may calm long-term yields for now, but investors are still watching rising US debt, inflation risks and heavy borrowing linked to the AI boom.