 The US financial markets were enveloped in a wave of risk aversion that continued into Asian session, primarily driven by the notable surge in Treasury yields. This uptick in yields followed an auction of seven-year debt that closed with higher than anticipated yields, raising alarms about weakening demand for US Treasuries. This concern was compounded by similar outcomes from auctions of two-year and five-year notes on Tuesday, suggesting a broader hesitation among investors. The currency markets responded to these developments with significant movements, where traditional safe-haven currencies such as Yen, Swiss Franc, and Dollar strengthen broadly, indicating a clear shift towards safer assets. Conversely, Australian Dollar, New Zealand Dollar, Canadian Dollar, and British Pound were all notably weaker, while Euro also saw a slight decline... |
