Treasury Secretary Scott Bessent said Wednesday the department would buy as much as $6 billion of 10- to 20-year Treasurys on Sept. 10. <\/p>\n
Elevated yields suggest investors remain focused on more fundamental factors including inflation risks and heavy Treasury supply, according to James Ooi, market strategist at Tiger Brokers. <\/p>\n
Oil prices above $100 a barrel have added to inflation concerns, while investors are awaiting U.S. producer and consumer inflation data for further clues on the rates outlook.<\/p>\n
“While Treasury buybacks can improve liquidity at the margin, the fact that yields still climbed higher suggests the market sees the long-end pressure as a fundamental rates issue tied to inflation concerns and heavy Treasury supply, rather than merely a liquidity issue,” Ooi said.<\/p>\n
\u2014Lee Ying Shan<\/p>\n
DBS sued for US$1 billion in claim relating to 1MDB <\/p>\n
DBS, Southeast Asia’s largest bank DBS, “categorically rejects and will vigorously resist” a lawsuit against it seeking $1 billion in 1MDB-linked claims.<\/p>\n
The lawsuit was filed by claimants including liquidators of four companies: Blackrock Commodities (Global), Platinum Global Luxury Services, Affinity Equity International Partners and TKIL Global Investments.\u00a0<\/p>\n
“The Claim is for damages which the claimants have purportedly estimated at S$1.298 billion,” the bank said in a statement<\/a>. <\/p>\n “It is a matter of public record that there have been global recovery efforts relating to 1Malaysia Development Berhad, supported by legal counsel since 2018. All this time, there was no claim against DBS,” the bank said. <\/p>\n 1Malaysia Development Berhad, a state wealth fund set up by former Malaysian Prime Minister Najib Razak in 2009, was hurt by a massive global corruption and money-laundering scandal, for which global recovery efforts are still ongoing. <\/p>\n Shares of DBS fell 0.58% in early trading on Thursday. <\/p>\n \u2014Justina Lee <\/p>\n Australia leads regional losses as Asia-Pacific markets fall <\/p>\n Asia-Pacific markets opened lower Thursday, with Australian equities leading regional declines.<\/p>\n Australia’s benchmark S&P\/ASX 200<\/a> was down 1.36%. Index heavyweights Rio Tinto<\/a> and BHP Group<\/a> fell 2.93% and 2.52%, respectively.<\/p>\n Japan’s\u00a0Nikkei 225<\/a> dropped 0.62%, and the Topix declined 0.56%.<\/p>\n South Korea’s Kospi lost 0.24%, while the small-cap Kosdaq was 0.83% lower. <\/p>\n \u2014 Lee Ying Shan<\/p>\n Asia markets poised to fall after Wall Street extends losses<\/p>\n Asia-Pacific markets were set to fall Thursday, tracking Wall Street declines, as higher oil prices dent sentiment with the Middle East conflict dragging on.<\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0was set to fall, with its Chicago and Osaka futures contracts last at 64,350 and 64,360 respectively, compared with the index’s previous close of 65,142.78.<\/p>\n Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0futures were at 24,982, lower than the index’s last close of 25,274.96.<\/p>\n Futures for Australia’s S&P\/ASX 200<\/a> last traded at 8,816, compared with the index’s previous close of 8,911.4.<\/p>\n Brent futures<\/a>\u00a0gained 3.4% to $101.21 a barrel Wednesday, the international benchmark’s highest closing price since May 22. U.S.\u00a0West Texas Intermediate<\/a>\u00a0futures advanced 3.3% to settle at $96.05.\u00a0<\/p>\n \u2014 Lee Ying Shan<\/p>\n The rate on a 30-year fixed mortgage hits 6.97%<\/p>\n The cost of financing a home purchase hit its highest level in more than a year \u00a0\u2014 and it’s creeping closer to 7%.<\/p>\n The rate on a 30-year fixed mortgage<\/a> reached 6.97% on Wednesday, according to Mortgage News Daily. That’s the highest level since May 30, 2025.<\/p>\n Stock Chart IconStock chart icon 30-year fixed mortgage rate in 2026<\/p>\n The last time the 30-year fixed mortgage was at 7% or higher was on May 26, 2025, when it was 7.02%.<\/p>\n This jump in the 30-year mortgage coincided with a surge in the 10-year Treasury yield<\/a>, which leapt to 4.857% for its highest level since November 2023. Rates on 30-year mortgages are influenced by the 10-year Treasury note yield.<\/p>\n \u00a0\u2014Gina Francolla, Darla Mercado<\/p>\n Stocks making the biggest moves after hours: AeroVironment, American Eagle & more<\/p>\n An American Eagle Outfitters store in New York, US, on Monday, May 27, 2024. <\/p>\n Stephanie Keith | Bloomberg | Getty Images<\/p>\n Several companies saw their shares move in extended trading following earnings reports and other developments.<\/p>\n AeroVironment<\/a>\u00a0\u2013 Shares of the drone manufacturer jumped 2% after first-quarter results trounced estimates. AeroVironment earned 59 cents per share on an adjusted basis and posted revenue of $480 million. Analysts polled by LSEG sought 25 cents a share on $456 million.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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