Asian shares drifted higher on Tuesday after two days of losses as U.S. 10-year ...
TOKYO - Asian shares drifted higher on Tuesday after two days of losses as U.S. 10-year Treasury yields edged up, but the outlook remained murky as investors weighed the odds of whether the U.S. economy is in danger of slipping into recession.
MSCI’s broadest index of Asia-Pacific shares outside Japan rebounded 0.2 percent after losing 1.4 percent in the previous session. Wall Street shares were little changed on Monday with the S&P 500 ending with a small loss of 0.08 percent.[.N] “This is not a healthy sign, as bond-market watchers should know and equity-market obsessives should rapidly learn,” he said in a note. “How much further will this run before we see markets starting to do the same?”
“I think the market has overreacted to the yield curve inversion because the San Francisco Fed has said it is the most reliable indicator,” said Hiroshi Nakamura, senior manager of investment planning at Mitsui Life. The British pound stood at $1.3180, erasing small gains made after lawmakers voted to wrest control of the Brexit process from Prime Minister Theresa May’s government for a day.
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