U.S debt deluge lifts bond yields to four-year high, Asian stocks down

[bronxiteforever]

HIDEYUKI SANO
TOKYO REUTERS APRIL 23, 2018
UPDATED 30 MINUTES AGO

Asian stocks slipped and the U.S. dollar advanced on Tuesday, as a deluge of U.S. government debt this week and the spectre of inflation and a higher fiscal deficit drove U.S. borrowing costs near four-year highs. U.S. bond prices have fallen for the past four days, pushing up the 10-year yield to 2.998 per cent, its highest level since January 2014.

“There are concerns about inflation, rising oil prices and also U.S. fiscal conditions,” said Hiroko Iwaki, senior strategist at Mizuho Securities, noting the U.S. budget deficit is expected to hit $1-trillion next year.

The bond market is bracing for combined sales of $96-billion in coupon-bearing Treasuries this week as the Treasury has ramped up its borrowing following last year’s massive tax overhaul and a two-year budget agreement reached in February.

https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-us-debt-deluge-lifts-bond-yields-to-four-year-high-asian-stocks-down/?cmpid=rss

[uponit7771]

1. ...aaaaaand when US bonds go up companies flock to safety