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U.S. Bonds Decline, Asian Bonds Gain

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Investors are given actual caution before the presidential race in the United States begins. U.S. bonds extend its decline and regional stocks drop low in two weeks.

As investors favored secured assets, benchmark 10-year bonds increase in New Zealand and Australia, yen gained its high in two weeks, and gold rose in its sixth day.

As of November 4, 2016 at 8:39 A.M.  Hong Kong time, Australia’s 10-year bond decreased by 2.32 percent, which is a fall of three basis points to a week drop. New Zealand benchmark stock index declined by two basis points to 2.75 percent. Gold increased to about $1,298 per ounce, which is a climb of one percent.

U.S. Bonds Decline, Asian Bonds Gain

Source: Bloomberg

IG Ltd. Chief Market Strategist, Chris Weston, stated in an e-mail addressed to clients that the act of reducing the table risks carries on. According to him, this is the point where there is a strike from buyers. On the other hand, money managers are now willing to flow along with the uncertain market, raise their portfolio’s cash allocations, and brought down their risks. This situation is ideal for short-term sellers who prefer bids drying out along with incertitude.

With Japanase markets closed for the holiday, losses in Singapore, Hong Kong, and Taiwan are foreseen.

After a record increase in U.S. stockpiles, copper declines and oil price is now less than $46 a barrel, which caused concerns on oversupply. Copper futures dropped by 0.3 percent in New York, losing its eight-day rise.

More concerns were raised by investors over the previous week ahead of November 8 Presidential Race between Democratic Hillary Clinton and Republican Donald Trump. Odds of Clinton’s victory seemed to have been shaken when FBI announced it would reopen the unauthorized e-mail server probe.

After a policy meeting on Tuesday, it is forecasted that Federal Reserve will increase its interest rates as central bank also hinted a change in December.

China’s and India’s Purchasing Managers’ Index (PMI) are due Thursday. Thailand will also report on its consumer confidence, while Hong Kong will declare its retail sales update.

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