Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
Dollar Holds Near Two-Month High as Yen Approaches 160 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Add as a preferred source on Google
The Japanese government bond yields slumped towards the end of Asian session Thursday, as investors’ risk appetite took a downturn ahead of a trade deal between the United States and China amid ongoing global economic and political uncertainties.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, slumped nearly 2-1/2 basis points to -0.023 percent, the yield on the long-term 30-year hovered around 0.607 percent and the yield on short-term 2-year plunged 15 basis points to -0.149 percent by 05:30GMT.
Global risk appetite may take a breather as investors contemplate and digest US Trade Representative’s sobering remarks on a China trade deal that needs to include “significant structural changes” to China’s model and provisions to enforce that promises made are kept. He also cautioned that “the reality is this is a challenge that will go on for a long, long time”, OCBC Treasury Research reported.
Wall Street closed flat while the 10-year UST bond yield rose to 2.69 percent. Meanwhile, US President Donald Trump and North Korean leader Kim Jong Un sounded optimistic at the start of their second summit, with Trump opining that “I am certain that the great outcome…will be made”.
However, back in the US, the political drama continued with his former lawyer Michael Cohen’s testimony to a congressional hearing that portrayed Trump as racist, a con man and a cheat, but had no direct evidence of collusion with Russia. Elsewhere, the latest escalation in India-Pakistan tensions also provides a tone of caution, the report added.
Meanwhile, the Nikkei 225 index closely nearly 1 percent lower at 21,361.00 by 05:35GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained slightly bearish at -83.39 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
