
SIAS
2021-03-06 09:14:40
Stocks remain firm despite rise in bond yields
US Treasuries rose on Fed chief’s comments, sparked selloff in stocks;
Markets stayed firm after a wobble, strong US jobs report helped Wall St recover;
STI regained the 3,000 level when it added 64 pts or 2.7% at 3,013.85;
Singapore’s Feb market cap rose 0.6% to S$843b;
Oceanus saw heavy trading as it crashed, drew SGX query;
Aviation stocks surged, some analysts expressed scepticism;
China set 6% annual growth target
Rising US Treasury yields sparked selloff but markets quickly stabilised
The benchmark US 10-year Treasury yield climbed back above 1.5% last week after Federal Reserve Chairman Jerome Powell reiterated that there is “long way” to go before the central bank meets its goals but didn’t signal any imminent plans to address the recent rise in yields.
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