Shares were mostly higher in Asia on Monday after a report Friday showed resilience in the U.S. jobs market.
A currency trader watches monitors near the screens showing the Korea Composite Stock Price Index , top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 10, 2023.
Asian central banks are also struggling to steer the delicate course of curbing inflation while avoiding putting economies into recession. "I suspect we are entering the peak uncertainty phase around the Fed’s next move as investors debate if credit tightening from financial stress will be enough to warrant cuts or if we are heading for more hikes," Stephen Innes of SPI Asset Management said in a commentary.
The yield on the 10-year Treasury climbed to 3.40% from 3.30% late Thursday. It was at 3.37% early Monday.
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