Nomura: Asian Risk Aversion Evident, Impacting US Treasuries and Australian Dollar

Deep News13:48

Nomura says risk aversion was evident during Asian trading hours, with US stock index futures and Treasury yields moving lower, while the Australian dollar declined despite market expectations that the Reserve Bank of Australia will hike rates in November.

"Across markets, there is still a struggle with several major issues — the valuations of US technology companies, elevated oil prices amid ongoing turbulence in the Middle East, and the budget challenges facing France," said Andrew Ticehurst, senior Australian rates strategist at Nomura.

"In the fixed income space, I suspect many investors and traders have been shaken by the surge in yields over the past few weeks and have chosen to stay on the sidelines. Confidence appears to be very weak."

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