Asian bond markets are expected to move lower in step with U.S. Treasuries, according to a ChainCatcher report, as tensions between the United States and Iran keep oil prices elevated and add to inflation concerns. That backdrop has also strengthened market bets that the Federal Reserve could raise interest rates again. New Zealand government bonds opened lower, while Australian bond futures were seen potentially declining as well. In the U.S. market, the benchmark 10-year Treasury yield at one point rose 11 basis points to 5.27%, marking a 19-year high. The 30-year yield climbed to 5.55%. Morgan Stanley analyst Chris Larkin said the market’s attention may remain centered on interest rates and energy prices. The report points to a rates-driven tone across regional bond trading, with U.S. yield moves continuing to shape sentiment in Asia.
Asian bond markets are expected to fall in line with U.S. Treasuries, ChainCatcher reported, as U.S.-Iran tensions keep oil prices high, fuel inflation concerns, and lift bets on another Federal Reserve rate hike.
New Zealand government bonds opened lower, and Australian bond futures may also decline. The benchmark 10-year U.S. Treasury yield at one point rose 11 basis points to 5.27%, a 19-year high, while the 30-year yield climbed to 5.55%.
Morgan Stanley analyst Chris Larkin said market attention may remain focused on interest rates and energy prices.
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