Asian shares lose steam on US recession fears; kiwi dives on RBNZ signal
Updated : March 27, 2019 10:24 AM IST
Wall Street's main indexes tallied solid gains on Tuesday but finished below their session highs in a reflection of the underlying concerns about the economic outlook. The S&P 500 gained 0.72 percent while the Nasdaq Composite added 0.71 percent.
The 10-year US Treasuries yield inched up to 2.425 percent from Monday's 15-month low of 2.377 percent, though the yield curve remained inverted, with three-month bills yielding 2.461 percent, more than 10-year bonds.
The inversion spooked many investors as this phenomenon has preceded every US recession over the past 50 years, triggering a dramatic selloff in stock markets across the globe late last week and a stampede into longer-dated US government debt.
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