Page 12 - Bond Yield News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The 10-year JGB yield fell 1 basis point (bp) to 0.760%, after hitting 0.780% - its highest since September 2013 - earlier in the session.

The Dow Jones Industrial Average fell 52.00 points, or 0.16%, at the open to 33,455.50. The S&P 500 opened lower by 3.53 points, or 0.08%, at 4,284.52, while the Nasdaq Composite dropped 1.34 points, or 0.01%, to 13,217.99 at the opening bell. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. ET, with local employers and small business owners on efforts to grow the economy.

Sandip Sabharwal says HDFC Bank and Kotak Mahindra Bank are currently not attractive investment options due to various challenges they face. However, these banks are well-managed and could be considered for investment at lower prices in the future. Sabharwal also discusses the impact of rising yields and the dollar rally on emerging market stocks, stating that India is more robust now compared to earlier.

Fresh supply of debt at the end of the quarter further challenged bullish sentiment. New Delhi aims to raise 390 billion rupees ($4.69 billion) through the sale of bonds later in the day, the last debt auction for the fiscal first half.

“Our base case is that crude oil remains over $90-100. But if you are looking for a more medium term view, we quite like the non-ferrous space because given the transition happening in the global economy towards the renewable and EV space, it is quite positive for copper and aluminium.”