Treasuries held their decline after a highly-watched sale of 40-year bonds in Japan saw its weakest demand since July.
The yield on Japanese 40-year bonds was little changed from 12:34 p.m. in Tokyo just before the auction results. Yield on the 10-year US Treasuries rose 2 basis points to 4.47%. The yen trimmed its decline slightly against the dollar after the sale.
Asian shares rose 0.1% Wednesday, paring much of their gains earlier in the day. South Korean equities were fueled by chip stocks ahead of results from Nvidia Corp. on Wednesday.
Korean shares are at their highest level since early September while Australia hit its highest since February. Oil rose ahead of an OPEC+ committee meeting.
The MSCI All Countries World Index is less than 1% below a record hit in February as trade tensions continue to ease after a bout of volatility.
Tuesday’s rebound in Wall Street broke a ‘Sell America’ trend in the markets that was most visible in the dollar after President Donald Trump unleashed his tariff war and pushed for tax cuts, which raised concerns about US fiscal deficit.
