The benchmark government bond yield fell late in trade on February 10 after the state government bond auction drew strong demand
The U.S. dollar bounced back, and long-term bond yields surged after the Federal Reserve kicked off its easing cycle with a larger-than-expected rate cut. Asian stocks also saw gains, with Japan’s Nikkei jumping 2% and Australian shares hitting record highs.
Japanese shares underperformed and the yen inched down against the dollar, as the Bank of Japan began its two-day policy meeting.
Spot gold eased 0.2% to $2,356.92 per ounce as of 0334 GMT. Prices had hit an all-time high of $2,449.89 on May 20.
Treasury yields rose, the dollar soared, and global shares gained on Friday after a strong U.S. jobs report dashed any remaining hopes of a near-term interest rate cut and emphasised a robust economy.
Due to political stability, healthy economic growth, and a sustained decrease in US bond yields, foreign portfolio investors (FPIs) have poured nearly Rs 57,300 crore into Indian equities markets this month.
Asian shares decline as Wall Street ends winning streak; Treasury yields near five-month lows on expectations of soft U.S. inflation data following Britain's similar trend.
The bullish case for gold appears to be stronger compared to the bearish one, as a number of factors are backing an uptrend in the yellow metal
FPIs shifted from buyers to net sellers, withdrawing over Rs 14,767 crore from Indian equities in September, driven by dollar strength, rising US bond yields, and higher oil prices.
Stocks struggled for headway on Wednesday while U.S. yields stood at or near decade highs along the curve as surging oil prices stoked inflation and set the scene for the Federal Reserve to project interest rates staying higher for longer.
A global index of stocks fell on Friday while U.S. Treasury yields rose after a July inflation reading showed prices.