Comprehensive up-to-date news coverage

HomeNewsThe markets cannot get any relief

The markets cannot get any relief

Published on

Follow us on Google News for latest updates and information.

News Tech: Aug 24 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever

Compounding the pain, any relief from lower U.S. Treasury yields on Tuesday evaporated late in the day, as the market reversed and the 10-year yield rose back above 3.00%.

Expect another jittery session for Asian markets on Wednesday, after Wall Street struggled to shake off its sluggish start to the week and purchasing managers index data showed that the global economy is coming under mounting strain.

Liquidity is thin and there are few key macro and corporate events in Asia to offer local direction on Wednesday. Classic – and risky – summer market conditions.

Meanwhile, purchasing managers index data on Tuesday showed that U.S. private-sector business activity contracted for a second month in August to its weakest in over two years, and PMIs from Japan and Europe showed weak activity as well.

The global economy is under strain, yet many central banks are being forced to tighten policy because inflation is at its highest in decades. Monetary authorities in Asia, aside from China and Japan, are no different. Indonesia’s central bank raised interest rates on Tuesday for the first time since 2018 as it stepped up the fight against inflation and steady the rupiah. South Korea’s central bank is expected to raise rates again on Thursday.

Key developments that should provide more direction to markets on Wednesday: U.S. durable goods orders (July)

U.S. pending home sales (July) U.S. 5-year Treasury auction

Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Source: Reuters Trust Principles. RegisterReporting by Jamie McGeever in Orlando, Florida; Editing by Mark Porter

Learning Tips!

Loading RSS Feed

Latest articles

Gujarat: PM Modi will flag off the Vande Bharat Express and launch the Ahmedabad Metro project today

News Tech: Prime Minister Narendra Modi will flag off the Gandhinagar-Mumbai Vande Bharat...

Sigourney Weaver and Morena Baccarin attend a screening of the new movie ‘The Good House’ in NYC

News Tech: Sigourney Weaver and Morena Baccarin are stepping out to promote their...

Jharkhand: Villagers blacken teacher’s face for ‘showing porn to girls’

News Tech: Irate villagers, mostly women, blackened the face of a school teacher...

Jamia student shot dead in Delhi hospital: Police register FIR

News Tech: Police have registered an FIR in connection with an incident of...

More like this

Gujarat: PM Modi will flag off the Vande Bharat Express and launch the Ahmedabad Metro project today

News Tech: Prime Minister Narendra Modi will flag off the Gandhinagar-Mumbai Vande Bharat...

Sigourney Weaver and Morena Baccarin attend a screening of the new movie ‘The Good House’ in NYC

News Tech: Sigourney Weaver and Morena Baccarin are stepping out to promote their...

Jharkhand: Villagers blacken teacher’s face for ‘showing porn to girls’

News Tech: Irate villagers, mostly women, blackened the face of a school teacher...

Jamia student shot dead in Delhi hospital: Police register FIR

News Tech: Police have registered an FIR in connection with an incident of...

Michelle Obama Jumps on Stilettos at Dinner with Bruce Springsteen and Wife in NYC: Photos

News Tech: Michele slayed in yet another high fashion outfit, as she stepped...

Naomi Campbell, Halle Bailey and other stars sit front row at the Off-White fashion show

News Tech: The stars are stepping out for the Off-White Fashion Show! PHOTOS: Check...

Mohd Siraj replaces the injured Bumrah for the rest of the T20I series against SA

News Tech: Mohammed Siraj on Friday replaced injured pace spearhead Jasprit Bumrah for...

Bowman is the second driver to suffer a concussion in a Next Gen car

News Tech: Alex Bowman will miss Sunday’s race at Talladega Superspeedway with a...

Two earthquakes shook the northeast

News Tech: Two earthquakes jolted parts of northeast early on Friday, an official...

Jackson will make his Supreme Court debut in a brief ceremony

News Tech: Justice Ketanji Brown Jackson is making her first appearance on the...

Billboard Latin Music Awards 2022 – Complete Winners List Revealed, Including Bad Bunny, Becky G & More!

News Tech: The complete winners list for the 2022 Billboard Latin Music Awards...

Congress poll: Shashi Tharoor, Digvijaya Singh to file nominations

News Tech: Congress leaders Shashi Tharoor and Digvijaya Singh will file their nominations...

The UN Security Council will vote on a resolution condemning the Russian referendum in Ukraine

News Tech: The United Nations Security Council has scheduled a vote for Friday...

Proactive news headlines including Hawsons Iron, Sandfire Resources, Core Lithium and Ionic Rare Earths

News Tech: Sydney, Sept. 30, 2022 (News) — Proactive, provider of...

Maha: Man attacked by mob on suspicion of being a child lifter; hospitalized for multiple injuries

News Tech: A man in his thirties was severely beaten up by a...

Miles Teller Explains How He Broke Royal Protocol To Meet Prince William And Kate Middleton – Watch Now!

News Tech: Miles Teller had a little faux pas when meeting Prince William...

Gujarat: PM Modi with flags from Vande Bharat Express train between Gandhinagar and Mumbai

News Tech: Prime Minister Narendra Modi on Friday flagged off the Gandhinagar-Mumbai Vande...

Christina Aguilera Performs Spirit of Hope Award Winner ‘La Reina’ at 2022 Billboard Latin Music Awards – Watch!

News Tech: Christina Aguilera is slaying the stage at the 2022 Billboard Latin...