Oil trims gains, but Middle East risks keep stocks on back foot

Oil exporter currencies held firm while the dollar found broad support as recent attacks on Saudi oil facilities and the threat of military action in the region kept crude prices kept prices elevated. Middle East risks keep stocks on back foot.

Asian Stocks

  • MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.66%.
  • Chinese shares fell 1.07%.
  • Hong Kong shares slumped 1.18%.

Currencies

  • The British pound fell 0.2% to $1.2409.
  • The euro was little changed at $1.1005.
  • The Japanese yen weakened 0.1% to 108.20 per dollar.

Bonds

  • The yield on 10-year Treasuries declined one basis point to 1.84%.
  • The yield on two-year Treasuries increased less than one basis point to 1.76%.
  • Britain’s 10-year yield rose one basis point to 0.701%.
  • Germany’s 10-year yield climbed less than one basis point to -0.48%.
  • Australia’s 10-year yield sank six basis points to 1.1365%.

Commodities

  • West Texas Intermediate crude dipped 1% to $62.28 a barrel.
  • Gold decreased 0.2% to $1,495.89 an ounce.

Source

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