Asian markets pulled back from record highs as oil prices climbed again amid renewed shipping troubles in the Gulf near the Strait of Hormuz. The move follows a strong Wall Street session but signals fragile risk appetite in Asia-Pacific, with MSCI’s broad index slipping 0.5%. Futures also point to a weaker European start.
Japan’s government bond yield curve steepened as investors turned cautious ahead of a 30-year debt auction. Higher oil prices and a weaker yen intensified inflation concerns, lifting long-term yields. Traders are also factoring in global jitters, including geopolitical tensions tied to Iran and strong U.S. payroll data.
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Indian government bonds fell on the first trading day of the new fiscal year, with the 10-year yield edging toward an eleventh straight increase. Traders cited higher oil prices after President Trump signaled ongoing attacks linked to Iran, alongside caution before the first FY27 debt sale. Inflation fears and the possibility of rate hikes further pressured sentiment.
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