Donald Trump’s threat to shut down the U.S. government looks set to preoccupy markets in Asia on Thursday as it triggered concerns Congress won’t easily raise the debt ceiling and deliver on tax reform. Japanese stock- index futures fell while Australian bond contracts advanced.
Equity-index futures rose in Australia and were little changed in South Korea. All major American equity benchmarks retreated and the 10-year Treasury yield hit the lowest since June as Trump’s gambit prompted Fitch Ratings to warn the country risks a review of its sovereign rating if it fails to raise the limit next month. The dollar slipped amid July data on U.S. home sales highlighted patchy U.S. growth.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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