STOCKS: The benchmark BSE Sensex rose 313.55 points, or 0.5%, to 63,413.2, while the broader NSE index gained 84.05 points, or 0.45%, to 18,842.4, tracking a global rally after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December."
Japan's government bond futures rose to a one-week high on Thursday after Federal Reserve Chair Jerome Powell said the U.S. central bank could slow the pace of rate hikes as soon as this month. Benchmark 10-year JGB futures rose 0.36 yen to 149.08, hitting its highest since Nov. 25, with a trading volume of 14,120 lots.
- A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes. Though asset prices have been battered by the Fed's rate rises this year, momentum has been on the side of the bulls in recent weeks.
Indian government bond yields declined on Thursday, with the benchmark yield easing back to 7.25% levels, tracking a similar move in U.S. peers, after U.S. Federal Reserve Chair Jerome Powell struck a more dovish tone than the market expected. The benchmark 10-year yield was at 7.2483% as of 10:00 a.m. IST.
STOCKS: The benchmark BSE Sensex rose 303.73 points, or 0.48%, to 63,403.38, while the broader NSE index gained 110.25 points, or 0.59%, to 18,868.6, tracking the sharp gains in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December."
Wall Street equities closed sharply higher on Wednesday while U.S. Treasury yields declined and the dollar sank after Federal Reserve Chair Jerome Powell said the central bank could slow the pace of interest rate hikes "as soon as December," even as he cautioned that inflation was still too high.
A look at the day ahead in Asian markets from Jamie McGeever. The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. The economic outlook is deteriorating. This is likely to prompt further fiscal and monetary policy easing from the authorities.
U.S. Treasury yields
retreated on Wednesday after trading higher for most of the
session after Federal Reserve Chair Jerome Powell struck a more
dovish tone than the market expected, saying the U.S.
* Canadian dollar strengthens 1% against the greenback. * Trades in a range of 1.3437 to 1.3593. * Price of U.S. oil settles 3% higher. * Canadian bond yields ease across much of curve. By Fergal Smith.
U.S. Treasury yields
retreated across the board on Wednesday after trading higher for
most of the session after Federal Reserve Chair Jerome Powell
struck a more dovish tone than the market expected, ...
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