Asian shares edged higher on Monday after data showed the U.S. unemployment rate...
TOKYO - Asian shares edged higher on Monday after data showed the U.S. unemployment rate dropped to the lowest in almost 50 years, easing concerns of a slowdown in the world’s largest economy.
Sentiment toward the U.S. economy deteriorated sharply last week after disappointing data on manufacturing and services suggested the trade war was taking a toll, and more rate cuts would be needed to avert a potential recession in the world’s biggest economy. “Moderate job growth and subdued inflation in the United States is a positive for stocks,” said Shusuke Yamada, head of FX and Japan equity strategy at Merrill Lynch Japan Securities in Tokyo.
The United States and China have slapped tariffs on each other’s goods as part of a long-running dispute over Beijing’s trading practices, which Washington says are unfair. The yield on benchmark 10-year Treasury notes US10YT=RR rose to 1.5187% compared with its U.S. close of 1.5140% on Friday.
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