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Asian Shares Fall Amid Wild Swings in Global Bonds, Currencies; Oil Prices Remain High
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News18•02-10-2026, 09:42
Asian Shares Fall Amid Wild Swings in Global Bonds, Currencies; Oil Prices Remain High
- •Asian shares declined as investors reacted to significant volatility in bond and currency markets ahead of crucial US jobs data.
- •US 10-year Treasury yields hit a 2002 high of 5.34% before stabilizing, while fiscal concerns in France widened bond yield spreads.
- •The euro plunged to its lowest level since May 2025 against the dollar, also weakening against the yen and Swiss franc.
- •All eyes are on the upcoming US nonfarm payrolls report, with forecasts centered on a 90,000 job increase in September.
- •Oil prices stayed firm, with US West Texas Intermediate crude futures steady at $92.84 a barrel, amid Middle East military buildup and China's export suspension.
Key Questions Answered
Benchmark 10-year US Treasury yields hit 5.34%, the highest since 2002, following wild swings in global bond and currency markets and after capping their biggest quarterly rise in 32 years.
Fiscal worries in France widened the spread between French and German sovereign bond yields to over 140 basis points, the widest since 2012, which rattled European stocks and pushed the euro down to $1.1215, its lowest level since May 2025.
Markets are pricing in a 25% probability that the Fed will raise interest rates in October, down from 69% the previous week, though a rate hike in December remains fully priced in.
