U.S. Treasury yields continued to race towards their longest streak of declines since 2020 as the world economy is overcome with concerns regarding higher inflation and continued strict monetary policies in response.
The two-year US government-bond yield fell for a fifth consecutive session, shredding 6 basis points to 3.72%, while the 10-year note extended its decline to seven straight days, falling 3 basis points to 3.28%.
Asian stocks also declined on Thursday, with the MSCI Asia Pacific Index declining by 0.7%. Indian shares provided a glimpse of optimism in Asia, with the Nifty 50 advancing after India’s central bank decided to pause its interest rate hikes.
European stocks rose, Stoxx Europe 600 gaining 0.4% during European morning trading. Germany’s 10-year yield remained little changed at 2.17%, while Britain’s 10-year yield declined two basis points to 3.41%. With regard to individual shares, Shell surged after figures indicated that the company’s gas-trading business remained strong despite a price decrease.