Asian bonds fall as Treasury yields stay high
Asian bonds underperformed as U.S. Treasury yields continued to rise, reaching around 5.29% for the 10-year maturity—levels not seen since 2002—amid concerns over inflation driven by high oil prices, which nearly hit $89.70 per barrel. Despite a slight decline of 0.2% in Asia-Pacific stock markets, cautiousness persisted in certain sectors like technology, with Micron Technology warning of cost pressures. Markets also focused on the performance of global bonds, which recorded their worst quarterly performance since 2024, as inflation fears remained prevalent. Attention is now turning to upcoming U.S. employment data and how the midterm elections might influence future market directions.
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