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Wall Street Journal
09-06-2025
- Business
- Wall Street Journal
Treasury Yields Little Changed Ahead of May CPI
0907 ET – U.S. bond benchmarks are little changed from Friday, as trade and budget negotiations continue ahead of inflation data and Treasury auctions. U.S. and China officials are meeting in London to discuss tariffs. Republican senators are yet to agree on a budget bill, keeping alive worries about fiscal deficits. Markets will watch long-term Treasurys auctions this week for potential signs of weakening demand. Economists surveyed by WSJ expect May annual CPI, due Wednesday, to accelerate to 2.5% from 2.3%, and to 2.9% from 2.8% in the core reading. The 10-year Treasury yield is at 4.513% and the two-year at 4.031%. ( @ptrevisani) 1056 GMT – U.S. Treasury yields fall, reversing Friday's rise after better-than-expected U.S. jobs data. Yields around 5% for 30-year Treasurys, 4.5% for 10-year Treasurys and 4.0% for two-year Treasurys could attract buyers, Pepperstone's Michael Brown says in a note. These levels have 'proved attractive to dip buyers in recent weeks.' However, investors are cautious ahead of this week's U.S. bond auctions, especially Thursday's sale of 30-year Treasurys, given U.S. fiscal concerns, he says. Three-year Treasurys will also be auctioned Tuesday and 10-year Treasurys on Wednesday. The 30-year Treasury yield falls 1 basis point to 4.953%; the 10-year yield falls 2 basis points to 4.488%; the two-year yield falls 3 basis points to 4.012%, Tradeweb data show. (
Bloomberg
09-06-2025
- Business
- Bloomberg
European Stocks Gain for Fourth Day as US Jobs Ease Growth Woes
European equities rose as better-than-expected US jobs data eased worries about economic growth, pushing the benchmark gauge to a more-than-two-week high. The Stoxx Europe 600 Index ended the session 0.3% higher, its fourth consecutive session of gains. The index is at the highest since May 21.
Malay Mail
09-06-2025
- Business
- Malay Mail
Asian stocks climb ahead of US-China trade talks in London, buoyed by upbeat US jobs data
TOKYO, June 9 — Shares jumped and the dollar pared recent gains today as Asian markets reacted to better-than-expected US jobs data ahead of talks in London aimed at mending a trade rift between the US and China. Wall Street stocks had closed sharply higher on Friday after the jobs data eased concerns about damage to the world's biggest economy from President Donald Trump's unpredictable tariff regime. Today, MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.7 per cent, with Australia's markets shut for a holiday. Japan's Nikkei stock index rose 0.9 per cent. But pan-region Euro Stoxx 50 futures pointed to a decline while US stock futures, the S&P 500 e-minis, slid 0.2 per cent. Sentiment was weighed down by a standoff in Los Angeles that led to Trump calling in the California National Guard to quell demonstrations over his immigration policies. The dollar slid 0.3 per cent against the yen to 144.46, trimming its 0.9 per cent jump on Friday. The European single currency was up 0.2 per cent on the day at US$1.1417 (RM4.84). Sterling traded at US$1.3553, up 0.3 per cent. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. The discussions follow a rare call last week between Trump and Chinese President Xi Jinping. 'Trade policy will remain the big macro uncertainty,' said Kyle Rodda, a senior financial market analyst at 'Signs of further momentum in talks could give the markets fresh boost to kick-off the week.' US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-US economic and trade consultation mechanism. 'China export growth slows' US job growth slowed in May by less than had been forecast, data showed on Friday. But dour economic readings from China added to evidence the trade war is taking a toll. China's export growth slowed to a three-month low in May, while factory-gate deflation deepened to its worst level in two years, separate reports showed today. Even so, trade optimism lifted Chinese shares. Hong Kong's Hang Seng Index rose 0.8 per cent, touching the 24,000-point level for the first time since March 21. China's blue-chip CSI300 Index added 0.2 per cent. Attention now turns to US inflation data on Wednesday that will feed into expectations for the timing of any rate cuts by the Federal Reserve. The Fed is in a blackout period ahead of its June 18 policy decision. Markets are facing 'mixed fortunes' today as they balance optimism over trade and the US economy against the potential for social unrest in California, said Jeff Ng, Head of Asia Macro Strategy at SMBC. 'The trade talks, if there's any progress, may help as well, but markets may not have priced in a lot of breakthrough for that,' Ng said. 'In the meantime, we are also quite cognisant that in the US there are protests in LA and the National Guard is also being sent in, so we have to be on the watch for event risk as well.' Gold was little changed at US$3,311.65 per ounce after a 1.3 per cent slide on Friday. US crude was steady at US$64.54 a barrel following a 1.9 per cent surge late last week. — Reuters
Zawya
09-06-2025
- Business
- Zawya
Asian shares climb, dollar eases ahead of US-China talks
TOKYO - Shares jumped and the dollar pared recent gains on Monday as Asian markets reacted to better-than-expected U.S. jobs data ahead of talks in London aimed at mending a trade rift between the United States and China. Wall Street stocks had closed sharply higher on Friday after the jobs data eased concerns about damage to the world's biggest economy from President Donald Trump's unpredictable tariff regime. Safe-haven assets such as gold remained lower after steep selloffs. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% in early trade on Monday. Hong Kong's Hang Seng Index surged 1.3%, touching the 24,000-point level for the first time since March 21. Japan's Nikkei stock index rose 0.9%. At the same time, a standoff in Los Angeles that led to Trump calling in the California National Guard to quell demonstrations over his immigration policies weighed on sentiment. The dollar slid 0.3% against the yen to 144.39, trimming its 0.9% jump on Friday. The European single currency was up 0.2% on the day at $1.1422. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. The discussions follow a rare call last week between Trump and Chinese President Xi Jinping. "Trade policy will remain the big macro uncertainty," said Kyle Rodda, a senior financial market analyst at "Signs of further momentum in talks could give the markets fresh boost to kick-off the week." U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. U.S. employers added 139,000 jobs in May, data showed on Friday, fewer than the 147,000 jobs added in April, but exceeding the 130,000 gain forecast in a Reuters poll of economists. Attention now turns to inflation data on Wednesday that will feed into expectations for the timing of any rate cuts by the Federal Reserve. Markets are facing "mixed fortunes" on Monday as they balance optimism over trade and the U.S. economy against the potential for social unrest in California, said Jeff Ng, Head of Asia Macro Strategy at SMBC. "The trade talks, if there's any progress, may help as well, but markets may not have priced in a lot of breakthrough for that," Ng said. "In the meantime, we are also quite cognizant that in the U.S. there are protests in L.A. and the National Guard is also being sent in, so we have to be on the watch for event risk as well." Spot gold fell 0.2% to $3,303.19 an ounce. U.S. crude was little changed at $64.56 a barrel after a two-day gain. (Reporting by Rocky Swift in Tokyo; Editing by Jamie Freed)
Reuters
06-06-2025
- Business
- Reuters
London stocks steady with eyes on US employment report
June 6 (Reuters) - London shares remained nearly flat on Friday as investors adopted a wait-and-see approach ahead of crucial U.S. jobs data. As of 0950 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was up 0.05%, poised for its fourth consecutive weekly gain. The domestically focused FTSE 250 (.FTMC), opens new tab was up 0.03% on the day, heading toward its second straight weekly advance. The upcoming US non-farm payrolls report will likely set the market tone, offering insights into how U.S. President Donald Trump's trade policies are affecting the labor market and how the Federal Reserve might navigate the uncertain trade environment. British government bond yields eased across the curve, mirroring eurozone counterparts ahead of the data release. Earlier this week, Trump doubled tariffs on steel and aluminum imports, though the UK received an exemption following a limited trade deal signed in early May that established a framework for future negotiations. Global attention also remained fixed on trade negotiations, with potential easing in U.S.-China trade tensions following Trump's phone call with Chinese President Xi Jinping on Thursday. On the stock indexes, homebuilders (.FTNMX402020), opens new tab were leading the way with a gain of 0.9%. Life insurers were up 0.5% after Deutsche Bank upgraded Phoenix (PHNX.L), opens new tab and Prudential (PRU.L), opens new tab to "buy", with both stocks climbing nearly 1%. On the flip side, industrial metal miners (.FTNMX551020), opens new tab dropped 1.1%. The heavy-weight aerospace and defence index (.FTNMX502010), opens new tab shed 0.8% with Babcock International Group (BAB.L), opens new tab sliding 3.4%, making it the biggest decliner on the blue-chip index. In other major developments, Finance Minister Rachel Reeves said on Thursday that upbeat business surveys and strong first-quarter GDP indicate the British economy is recovering from its weak end to 2024, though the public remains concerned about slow improvements in living standards. Purchasing managers' indexes released this week have shown a recovery in activity after a sharp fall in April due to the shock of Trump's tariffs. Investors will closely monitor next week's employment figures and April GDP estimates for further insights into the country's economic health.
