Asian shares were shaky on Tuesday after U.S. Treasury yields sank to their lowe...
TOKYO - Asian shares were shaky on Tuesday after U.S. Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a U.S. recession.
Wall Street shares were little changed on Monday with the S&P 500 ending with a small loss of 0.08 percent. San Francisco Fed researchers have said that the difference in those two maturities was the most useful for forecasting a recession. The Treasury Department will sell $113 billion in coupon-bearing supply this week, including $40 billion in two-year notes on Tuesday, $41 billion in five-year notes on Wednesday and $32 billion in seven-year notes on Thursday.Fed funds rate futures are now fully factoring in a rate cut later this year, with about an 80 percent chance of a move priced in by September.The euro stood at $1.1316, having gained a tad on Monday after Germany’s IFO Institute said its business climate index rose to 99.
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