Select the account you'd like to open


Bonds, Yuan, Tech in focus

Bond markets around the world are under pressure as reports flagged a change of policy at the Bank of Japan. The US dollar lifted again, and forex traders will look to today’s USD/CNY fix for further weakening of the yuan and towards 7.00 per US dollar. Tech stocks helped lift share markets and Google parent Alphabet reported strongly after the New York close.

Interest rate curves are steepening. Japanese ten year bond futures are off 4 points, and Australian futures are off 5.5 points. News that BoJ officials are considering moving away from their policy to hold ten year bond yields near zero sparked the sell-off, despite a re-iteration of the BoJ intention to act in the market if the yield reaches 0.11%.

Regional share futures are pointing to higher levels for stocks after Europe and US markets traded flat. Volumes are lower as investors await the full picture of earnings. The release after the close of Alphabet’s quarterly result saw its stock jump 5% in post market trading, although it has now given up some of the early gains. This could lend a tech flavour to Asia Pacific trading today.

Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.

Sign up for market update emails