Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
The U.S. Treasuries finally breached the 3.00 psychological mark after a span of 4-1/2 years, hovering around that level in the overnight session. However, it started to jump back again on market expectations of a rising in inflationary pressure in the country and the UST yields are closely watched for between the trading sessions. Expectations of a stronger pace of Fed tightening this year also led to a rise in bond yields.
The yield on the benchmark 10-year Treasuries rose nearly 3-1/2 basis points to 3.01 percent, the super-long 30-year bond yields jumped 2-1/2 basis points to 3.19 percent and the yield on the short-term 2-year traded nearly 3 basis points higher at 2.50 percent by 11:15GMT.
Treasuries remained under pressure amid lingering supply jitters, mounting inflation worries mainly on the back of higher commodity prices and expectations for higher Fed interest rates in the period ahead.
Yesterday the 10-year UST yield finally breached the 3 percent mark for the first time in four years, with higher oil prices providing support. Brent traded above USD75 per barrel for the first time since late 2014. Higher yields together with some unsettling reports on corporate earnings in the US put downward pressure on equities – the S&P 500 ended the day 1.3 percent lower.
Meanwhile, the S&P 500 Futures rose 0.61 percent to 2,687.00 by 11:15GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 133.48 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
Lastly, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
