A look at the day ahead in Asian markets from Jamie McGeever.Central bank policy decisions in Indonesia and The Philippines grab the limelight in Asia on Thursday, giving investors a rare diversion from the dramatic repricing of U.S. rate expectations that is increasingly defying logic for world markets.
Central bank policy decisions in Indonesia and The Philippines grab the limelight in Asia on Thursday, giving investors a rare diversion from the dramatic repricing of U.S. rate expectations that is increasingly defying logic for world markets.
U.S. high yield corporate bond spreads are near the nine-month tights of earlier this month, and investment grade spreads are near the 10-month tights of only a couple of weeks ago. Aren't rising rates and yields meant to dampen risk appetite? There are a few possible explanations - investors are still heavily underweight equity, plentiful global liquidity, a soft or even 'no landing' scenario for the U.S. economy - but it is still a bit of a head-scratcher.
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