The global interest rate outlook will focus on the US Fed, Bank of Japan, and Bank of England meetings.
Markets anticipate a US rate pause as attention shifts to economic forecasts and speeches by Federal Reserve Chair Jerome Powell.
However, the stress in the property sector persisted, with the fear that it is spreading to the financial system. Troubled Chinese trust firm Zhongrong International Trust Co said it was unable to make payments on some trust products on time. “In theory, the FOMC meeting should be a low-volatility affair, but it is a risk that needs to be managed,” said Chris Weston, head of research at Pepperstone.
On Thursday, Bank of England is tipped to hike for the 15th time and take benchmark borrowing costs to 5.5%, while Sweden’s Riksbank is seen hiking by 25 basis points to 4%. Cash Treasuries were not traded in Asia with Tokyo shut. Treasury yields edged higher on Friday, with the two-year above the 5% threshold, as futures price in higher rates for longer ahead of a the Fed’s policy meeting this week.
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