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Asian markets are facing a new week with uncertainty following a surprising increase in U.S. payrolls data, causing Treasury yields to surpass 4%. This shift has raised doubts about the possibility of a rate cut by the Federal Reserve in November. Despite this, the resilience of the U.S. economy could still provide a positive backdrop for Asian markets, especially as Chinese investors return from the Golden Week holiday.
Beijing has implemented significant stimulus measures to boost the Chinese economy, and investors are eagerly awaiting signs to assess the effectiveness of these actions. Yields on government bonds have risen, with fed funds futures pricing in an 85% chance of a rate cut in November.
The dollar consolidated its recent gains but remained under pressure as tensions in the Middle East escalated. The yen weakened, causing a rally in Japanese Stocks. The broader Asia-Pacific region also saw gains, with MSCI’s index showing positive movement.
Key data releases on Tuesday include Australia’s consumer sentiment, Japan’s Tankan manufacturing and service indexes, and Taiwan’s trade balance for September. Additionally, a U.S. 3-year note auction will take place.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
