Another crushing selloff in U.S. Treasuries, one of the biggest falls in world stocks this year, suspected currency market intervention from Japan and political turmoil in Washington as House of Representatives speaker Kevin McCarthy was booted from his job. It's probably also safe to say Asian markets will open on the defensive and investors will be running for cover on Wednesday. It is up almost 25 basis points in barely 48 hours.
Motion to vacate the chair of House Speaker Kevin McCarthy and end McCarthy's continued leadership as Speaker of the House passes in Washington - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
The trouble is, with the apparently safest asset on the planet at the epicenter of the storm, there doesn't appear to be anywhere obvious to take shelter. 'Bond King' Bill Gross, formerly of PIMCO fame, tweeted that a 30-year mortgage rate of 7.7% "shuts down" the U.S. housing market. Fears are growing that something somewhere in the investment universe will soon break, such is the blistering rise in bond yields.Gold? It fell only 0.2% on Tuesday but the fact it failed to rise at all in such a febrile 'risk-off' environment is telling.
The RBNZ is widely seen holding its key interest rate at 5.50% - the highest in nearly 15 years - and keep it there at least until March before lowering it shortly after.- U.S. Fed's Schmid, Bowman, Goolsbee all speak'It's not taxed at all': Warren Buffett shares the 'best investment' you can make when battling against inflation — and it doesn't have to cost you a dimeI wouldn’t be surprised if ENB stock even doubles in value in the next 10 years. Here why.
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