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Consolidative Session as Markets Await Fresh Incentives
The markets lack a clear direction today and await fresh incentives. After gaining almost 1% yesterday, the MSCI Asia Pacific Index slipped. Japan, Hong Kong, and Australia are among the few equity markets that rose. The Dow Jones Stoxx 600 is posting minor gains, while US futures are largely steady. The S&P 500 and NASDAQ have a five-day advancing streak in tow. The US 10-year yield reached a five-month high near 1.64% yesterday and extended to 1.67% before consolidating. European benchmark yields are 1-2 bp lower, including the UK Gilts, despite the strong inflation report. Asia Pacific yields mostly played ... (full story)