Asian stocks bounced, and bond yields rose from record lows on Tuesday on hopes ...
SYDNEY/HONG KONG - Asian stocks bounced, and bond yields rose from record lows on Tuesday on hopes that global policymakers would introduce co-ordinated stimulus to cushion the economic impact of a coronavirus outbreak.
Yields on benchmark U.S. 10-year Treasury debt more than doubled to 0.70% as investors pared some of their heavy safe-haven holdings. Headlines on the coronavirus, however, were still no brighter with Italy ordering everyone across the country not to move around other than for work and emergencies, while banning all public gatherings.
Gold prices fell 1%, retreating from the last session’s jump above the key $1,700 level, as safe-haven demand waned a little amid speculation of global stimulation measures. [GOL/]Such has been the conflagration of market wealth that analysts assumed policy makers would have to react aggressively to prevent a self-fulfilling economic crisis.
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