Oil popped over 3% to hit its highest level since August 2022, while the 10-year Treasury yield reached levels not seen since 2007
. According to Morgan Stanley, those conditions could put certain stocks in Asian and emerging markets at a disadvantage.
The U.S. 10-year real yield recently rose above 2.1% — the highest level since 2006-2007 — and that"could put pressure on valuations of stocks with long duration exposures," the bank's strategists wrote in a Sept. 22 note.Thailand's central bank raised its benchmark interest rate by 25 points to 2.5%, surprising economists who expected the Bank of Thailand to keep rates unchanged.
However, the central bank noted that inflation is projected to increase, in line with the country's economic recovery and El Niño-related supply pressure.Oil prices climbed by more than $1 a barrel Wednesday, boosting energy stocks and adding pressure to the broader stock market.
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