Asian shares track Wall Street higher, Treasury yields near multi-decade highs
SPY•Asian shares rose after a tech-led rally lifted the Nasdaq to a record close, while U.S. 10- and 30-year Treasury yields reached fresh 24-year highs. Japan’s Nikkei gained 0.7%, and the 10-year yield stood at 5.3089% in Asia.
1. Asian shares advance
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2%, while Japan’s Nikkei gained 0.7%. European stock futures climbed 0.5%, Nasdaq futures rose 0.2% and S&P 500 futures added 0.1%.
2. Treasury yields climb
U.S. 10- and 30-year Treasury yields reached fresh 24-year highs overnight, despite markets scaling back the probability of a Federal Reserve rate increase this month to 23% from 71% a week earlier. The 10-year yield was 5.3089% in Asia, after reaching 5.3493%, its highest since 2002; the 30-year yield was 5.6622%, after briefly touching 5.7029%.
3. Oil and currency moves
Brent crude was little changed at $100 a barrel after falling 1.9% overnight. The euro traded at $1.1215 after dropping as much as 0.8% to $1.116, while spot gold was little changed at $4,141.31 an ounce.
