Asian Shares Rise as US Yields Hit 5 Percent
Asian markets are climbing on US equity gains and softer oil prices, despite the Bank of Japan raising rates to a 31-year high and US Treasury yields hitting 5.0%. New developments include a sharp downgrade in Volkswagen's financial outlook and surprisingly resilient UK retail sales.
Per KDVR, Volkswagen has slashed its operating return forecast to 1% and warned of a €10bn loss driven by Porsche impairments and Chinese market challenges, causing its shares to drop 5.5%. Meanwhile, UK retail sales unexpectedly rose last month, defying pessimistic economic outlooks.
Source: The GuardianUS Treasury yields have climbed to 5.0% from 4.94% as the Fed signaled potential further rate hikes to combat persistent inflation, a move that has weighed on global equity valuations. Meanwhile, the Bank of Japan raised its benchmark rate to a 31-year high, while Brent crude prices stabilized near $104 despite recent volatility driven by geopolitical tensions.
Source: wowktv.comAsian equity markets gained ground Friday, supported by a US rally and falling oil prices. The 10-year Treasury yield reached 5.0 percent, a level unseen since 2023. This move pressured global borrowing costs and equity valuations.
Source: KDVR
