Asian shares crept to a three-month peak on Tuesday after Wall Street hit all-ti...
) slipped in late NY trade after missing analysts’ estimates for quarterly profit even though revenue growth topped expectations.The embrace of risk left bonds out in the cold, and yields on two-year Treasury notes US2YT=TWEB hit four-week highs at 1.667%.
Bond investors are still looking forward to a likely rate cut from the Federal Reserve on Wednesday, though they also suspect officials might signal caution on moving yet further. “Our base case is for the Fed to cut again in December, although Fed communication may sound marginally more hawkish this week and we expect the FOMC to keep the door open for another easing this year rather than signal it explicitly,” wrote analysts at JPMorgan in a note.Central banks in Japan and Canada also meet this week, with talk the former might ease further if only to prevent an export-sapping bounce in its currency.
Sterling firmed after the European Union agreed to a Brexit delay of up to three months, while Prime Minister Boris Johnson lost a vote to force an election on Dec. 12.Spot gold slipped back to $1,491.48 per ounce XAU=, and away from last week’s top around $1,517.Brent crude LCOc1 futures slipped 24 cents to $61.33 a barrel, while U.S. crude CLc1 lost 24 cents to $55.57.
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