Ten-year Treasury yields slumped, taking the dollar down against the yen, after Italy’s political impasse triggered a risk-off mood in holiday-hit markets. Oil prices retreated further, sending West Texas crude to its lowest in six weeks.
The Japanese yen gained 0.3 percent to 109.14 per dollar. The euro was at $1.1632, hovering around the weakest since November. Stocks were mixed, with benchmarks heading lower in Japan and flat in South Korea and Australia. Italy’s bonds and stocks tumbled overnight, taking the euro down along with them, after the country headed toward fresh elections following a failure to set up a government. Ten-year Treasury yields fell below 2.90 percent for the first time this month.
Source : Bloomberg