A look at the day ahead in European and global markets from Wayne Cole Asian stocks have extended last week's rally, led by China shares, amid talk that ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSA look at the day ahead in European and global markets from Wayne Cole
Japanese shares have also been doing well, with the Topix marking a 33-year high in the wake of data showing recurring profits at Japanese companies hit a record in the second quarter. Companies are holding an astonishing 555 trillion yen of earnings in reserve, which is more than the entire 447 trillion market capitalisation of the Topix.
The stand-out feature of the household survey was the huge 736,000 jump in the workforce, which swallowed up a gain of 222,000 in employment and pushed the jobless rate higher. Oddly, though, Treasuries still sold off on Friday with longer-term yields popping higher as the curve bear-steepened. Cash Treasuries are closed today but futures are down another 5 ticks, which might be the market cheapening debt ahead of a wave of corporate issuance this week.
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