Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
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SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
The U.S. Treasuries surged during late afternoon session Thursday ahead of the country’s ADP non-farm employment change for the month of November, scheduled to be released today by 13:15GMT.
Besides, the initial jobless claims and October trade balance data, also due later today will be watched carefully for further direction in the debt market. Further, FOMC members Bostic and Williams will deliver their respective speeches today at 17:15GMT and 23:30GMT, along with Fed Chair Powell, scheduled at 23:45GMT.
The yield on the benchmark 10-year Treasuries slumped nearly 3 basis points to 2.896 percent, the super-long 30-year bond yields fell nearly 1-1/2 basis points to 3.165 percent and the yield on the short-term 2-year plunged 5 basis points to 2.760 percent by 11:05GMT.
With US markets closed yesterday to mark the funeral of President George H. W. Bush, markets elsewhere were left to react mostly to the late slump seen on Wall Street back on Tuesday. US equity futures initially firmed modestly as President Trump referred to “Very strong signals” from China since his weekend meeting with President Xi, adding that “Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting”, Daiwa Capital Markets reported.
The recent fall in 10-year US Treasury yields has caused risk appetite to fall, as investors have become more worried over the recession signals from an inverted yield curve. More relevant than contemplating whether or not this is actually a reliable indicator, is why 10-year yields are falling to begin with, as none of the usual drivers of falling yields can fully explain it, DNB Markets reported.
Meanwhile, the S&P 500 Futures fell 1.76 percent to 2,654.12 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 126.07 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
