REFILE-GLOBAL MARKETS-Rising U.S. yields takes edge off stocks rally Reuters 2/17/2021
(Corrects typo in headline) MSCI AxJ index eases from record high Asian stock markets: https://tmsnrt.rs/2zpUAr4 Global asset performance http://tmsnrt.rs/2yaDPgn
By Tom Westbrook and Pete Schroeder
SINGAPORE/WASHINGTON, Feb 17 (Reuters) - U.S. Treasury yields hit one-year highs on Wednesday, lending support to the dollar but pressuring lofty valuations for stocks, as investors reckoned that a stimulus-fuelled global recovery will eventually bring rising inflation.
Benchmark ten-year U.S. Treasury yields rose as far as 1.3330% in Asia, the highest since February 2020, although they later eased back to 1.2989%.
Stock markets scratched out a new record peak in Asia on Wednesday, but their rally lost a bit of steam as a surge in US Treasury yields put pressure on both lofty company valuations and hard-running commodity currencies.
Rising U.S. yields takes edge of stocks rally
By Tom Westbrook and Pete Schroeder
Reuters
SINGAPORE/WASHINGTON (Reuters) - U.S. Treasury yields hit one-year highs on Wednesday, lending support to the dollar but pressuring lofty valuations for stocks, as investors reckoned that a stimulus-fuelled global recovery will eventually bring rising inflation.
Benchmark ten-year U.S. Treasury yields rose as far as 1.3330% in Asia, the highest since February 2020, although they later eased back to 1.2989%. [US/]
The gap over two-year yields also opened to its widest in nearly three years, as traders figure that short-term monetary policy will stay accommodative, even as the world bounces back from the pandemic.
Japan s Nikkei fell 0.7% and S&P 500 futures slipped 0.3% after the index posted a small fall overnight., , global share market, global investors, Covid 19, japan, global markets