Wednesday, 6 June 2018

Asian stocks edged up on Wednesday after tech sector strength lifted Wall Street shares, while concerns about Italy’s debt prompted investors to move into lower-risk government debt elsewhere, pushing U.S. Treasury yields down from recent highs.

Treasury yields fell as investors moved back into safe-haven government debt after Italy’s new Prime Minister Giuseppe Conte vowed to enact economic policies that could add to the nation’s already-heavy debt load. The 10-year Treasury note yield was at 2.929 percent having pulled back from a 10-day high of 2.946 percent scaled on Monday.

The dollar index against a basket of six major currencies fell 0.1 percent to 93.833. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.4040 vs previous day’s fix of 6.4157. 

In commodities, Brent crude futures were down 8 cents at $75.30 a barrel. The contract went as low as $73.81, the weakest since May 8, the previous day after a report that the U.S. government had asked Saudi Arabia and other major exporters to increase oil output.

Source : Reuters

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