Japanese government bond yields rose, with the benchmark 10-year JGB yield up 0.5 bp to 2.690%, driven by escalating US-Iran tensions pushing oil prices higher and fueling inflation concerns. This rise in yields, alongside a Bank of Japan survey showing broad inflation expectations, suggests potential for further rate hikes. Conversely, US Treasury yields declined after the Producer Price Index for final demand dropped 0.3% last month. Rising oil prices often boost gold as an inflation hedge, while global bond market moves and US economic data influence the US Dollar, potentially impacting gold and currency rates in Pakistan.
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