The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Rates & Bonds 3 MIN READ

Investors hunker down as perfect storm breaks

April 2, 2024By Reuters
Related Articles
Yields dip as business activity cools April 23, 2024 BRIEF-Manila Broadcasting Co Says On March 24, Approved Acquisition Of Unionbank Property March 29, 2022 Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism August 9, 2024

April 3 – The perfect storm of higher bond yields, corporate jitters, and rising price pressures that hit Wall Street on Tuesday looks set to darken the Asian market landscape on Wednesday, as investors wonder whether this might be the start of a deeper correction.

Asia’s economic calendar has some top-tier releases in the shape of Chinese and Japanese service sector purchasing managers index data, but the market tone on Wednesday will probably be set by the latest tightening of global financial conditions.

The 10-year US Treasury yield hit 4.40% and Brent crude touched USD 89 a barrel on Tuesday – both the highest levels this year – and Tesla shares slumped 5% after the company announced the first fall in quarterly deliveries for nearly four years.

The three main US indexes shed 0.7% to 1.0%, and the S&P 500 clocked its biggest fall in a month. This doesn’t bode well for Asia on Wednesday, but there is a ‘glass half full’ argument to be made.

In some ways, Wall Street held up pretty well in light of the breakout in yields, back up in implied rates, and renewed talk of ‘bond vigilantes’ coming back to stalk the bond market. A decline of 1% or less, on the heels of a relentless rally culminating in last week’s record highs, is small beer.

Still, there are plenty reasons to be cautious.

The threat of currency market intervention from Japanese authorities to support the beleaguered yen refuses to lift, as the yen continues to hover close to the 152.00 per dollar level.

Recent moves in China’s currency are also worth noting. The offshore yuan is creeping above the upper limit of the 2% band around the central bank’s daily fixing rate. This comes ahead of US Treasury Secretary Janet Yellen’s return to China later this week for renewed dialogue with top officials in Beijing.

China’s ‘unofficial’ Caixin services PMI data on Wednesday rounds off a surprisingly strong set of PMI reports that has fueled hopes that the world’s second-largest economy is finally picking up momentum.

Ironically, however, this renewed optimism, together with punchy US manufacturing PMIs, has helped put upward pressure on global bond yields, which in turn has put downward pressure on stocks.

World markets may be back in a ‘good news is bad news’ mindset.

Alibaba shareholders may be asking themselves a similar question after the Chinese e-commerce giant said on Tuesday it conducted a USD 4.8 billion share buyback in the three months to March, its second-biggest quarterly buyback ever.

Hong Kong-listed shares rose 1%, but US-listed shares fell 0.7%.

Here are key developments that could provide more direction to markets on Wednesday:

– China Caixin services PMI (March)

– Japan services PMI (March)

– Hong Kong retail sales (February)

(By Jamie McGeever; Editing by Josie Kao)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up