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Stocks wobble as bonds slump to monthly loss
SINGAPORE: Oil prices and bond yields were higher in an uncomfortable combination for Asian equities on Tuesday, as investors braced for an interest rate hike in Australia and an era where short term borrowing costs settle at their highest for years. The benchmark 10-year US Treasury yield spiked to a 19-year high above 5.27% overnight for a rise of nearly 50 basis points through September. Yields rise when bond prices fall and the monthly selloff is the heaviest for two years. The US 2-year yield has moved even further, shooting up more than 57 bps this month to the threshold of 5%, as tra...
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