Asian Stocks Decline Amid Rising Yields and Nvidia Focus
Asian equities fell as U.S. Treasury yields hit multi-month highs. Investors await Nvidia earnings while monitoring geopolitical tensions in the Middle East.
Asian stocks extended a four-day losing streak on Wednesday as surging United States Treasury yields and geopolitical tensions pressured global markets. The MSCI Asia-Pacific index fell 0.7% while the 10-year Treasury yield hit a 16-month high of 4.687% overnight. Investors are now pivoting to high-stakes earnings from the world's most valuable company to determine if tech growth can offset rising borrowing costs.
### Yield Surge Rattles Global Equity Markets The sell-off in global bonds accelerated as investors increased bets that the Federal Reserve may hike interest rates this year. The 10-year Treasury yield jumped 21 basis points over the past three sessions, while the 30-year yield climbed 17 basis points from last Thursday to 5.198%, a level not seen since 2007. European stock futures fell 0.7% ahead of the open.
