World stocks regain stability as US retail sales report reassures

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World stocks regain stability as US retail sales report reassures - Business Standard

Quick Summary:

Retail sales increased 1.0 per cent last month, well above market forecasts for a 0.

A sustained period of high US rates driving the dollar higher against Japan's yen screeched to a halt in July, creating a wrecking-ball effect on a popular speculative trade that involved borrowing the Japanese currency to buy US stocks.

Pressured by speculation that the Fed is likely to reduce rates at a more moderate pace, the benchmark 10-year Treasury yield jumped to 3.9245 per cent, while the two-year Treasury yield climbed to 4.0762 per cent.