World stocks were on track for their longest losing streak in two years on Thursday
There was brief respite from the dollar’s strength in the currency markets but it was Wednesday’s big drop in U.S. crude stocks that jangled the nerves of another supply-side shock just when the global economy needs it least.
Ten-year U.S. Treasury yields, which are the benchmark of global borrowing costs, were above 4.6% for the first time since 2007 having started September at 4%. “The repricing is applying some stress to credit spreads as well as other things,” Chatwell said. “If the higher rate environment persists it is potentially much more difficult to keep debt levels stable.”
MSCI’s index of Asia-Pacific shares outside Japan ended near a 10-month trough, while Japan’s Nikkei fell 1.5% as investors readying for the end of Q3 offloaded stocks that went ex-dividend. German institutes predicted its economy will shrink 0.6% this year and Spanish data showed headline inflation there has risen to 3.5% again this month due to the soaring cost of energy.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank chief sees $100 bln-plus lending boost from country contributionsMarket News
Read more »
Premarket: Global stocks tick up and bond yields dip after sell-offMSCI’s index of global stocks is down more than 4 per cent since the beginning of September
Read more »
Biden plans $100 million drive to combat drug-resistant 'superbugs'By Trevor Hunnicutt WASHINGTON (Reuters) - U.S. President Joe Biden will announce on Wednesday a $100 million research drive to fight deadly ...
Read more »
Biden plans $100 million drive to combat drug-resistant 'superbugs'By Trevor Hunnicutt WASHINGTON (Reuters) - U.S. President Joe Biden will announce on Wednesday a $100 million research drive to fight deadly ...
Read more »
Oil Rally Gets Fresh Impetus From Shrinking Stockpiles at US HubOil was propelled closer to the $100-a-barrel mark after stockpiles at the major US storage hub dropped to critical levels.
Read more »
UK Green Bond Sale Demand Holds Up After Sunak’s Climate PivotDemand for the UK’s green bonds held up in a sale on Tuesday, after speculation that Prime Minister Rishi Sunak’s changes to climate policies might hurt investor interest.
Read more »