October 24, 2024
United States:
US Treasuries Rebound as Market Takes Break from Days of Losses
The sharp selloff in Treasuries abated on Thursday, with US bonds rallying alongside European peers, after three straight days of declines.
While an unexpected drop in initial jobless claims curbed the day’s gains, yields remained lower across the curve, led by five- to 10-year yields, down close to three basis points on the day, about half as much as before.
Europe:
Euro-Zone Private-Sector Economy Fails to Grow for Second Month
The downtrend in private-sector activity in the euro-area extended into a second month with the region’s two top economies weighing on output and little sign of a recovery to come.
The composite Purchasing Managers’ Index by S&P Global inched up to 49.7 in October from 49.6 the previous month — holding just below the 50-threshold separating growth from contraction, data Thursday showed. The reading was exactly as predicted by analysts.
Asia:
Japan’s Finance Chief Gives Warning Over Yen’s Rapid Slide
Japan’s Finance Minister Katsunobu Kato said he is raising the level of urgency for monitoring currency moves, after the yen hit an almost three-month low against the dollar.
“We are seeing one-sided, rapid moves” in the forex markets, Kato told reporters after attending Group of 20 finance chiefs and central bankers’ meetings in Washington Wednesday.
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