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Asian Shares Waver as Oil and Yields Rise Ahead of Fed, BOJ Meetings
Rising oil prices and 5% U.S. Treasury yields are pressuring risk appetite as traders await Federal Reserve and Bank of Japan decisions.
- On Tuesday, Asian shares struggled as elevated oil prices and rising bond yields weighed on investor sentiment ahead of central bank meetings in the United States and Japan.
- Benchmark 10-year U.S. Treasury yields touched 5% for the first time since 2023, while renewed supply concerns pushed Brent futures up 1% to $105.68 a barrel.
- Traders attach a 90% probability to the Federal Reserve raising rates on Wednesday, while markets imply a 76% chance the Bank of Japan will lift its policy rate to 1.25% on Friday.
- Markets "are down but surprisingly resilient given the wall of worry, including rates, oil prices, Fed uncertainty and the AI build-out discussion," said Mark Hackett, chief markets strategist at Nationwide.
- Saudi officials reported a temporary shutdown of the East-West Pipeline following a drone attack, a disruption threatening up to 4% of global oil supply amid regional tensions.
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Like the rabbit in front of the snake, the US investors are looking at the Fed. The central bank will announce its interest rate decision tomorrow - the first increase in three years is likely to occur. US shares are yielding in advance.
With oil prices above $100, stubborn inflation, weakening consumption, bond yields above 5 percent, and a stock market that has been weak for months, the Fed now has to make a decision on interest rates, but it really has no choice: whatever it does, the American economy and the market could pay a serious price somewhere.
·Budapest, Hungary
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Total News Sources26
Leaning Left2Leaning Right5Center10Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
12%
C 59%
R 29%
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