1) FSS expects SET Index to continue plunging, pressured by rising US bond yields
Finansia Syrus Securities (FSS) expected the Thai stock market to continue moving in a negative territory amid rising US 10-year bond yields at a record high in 16 years, hitting 4.8%. The job openings in August rose higher than expected, reflecting a strong outlook for the U.S. economy, which led to the anticipation that the Fed could continue raising rates and maintain it for longer. This caused risk assets to see continuous selloff as of late.
2) US job openings in August rise higher than expected
The number of job openings in the U.S. rose in August, according to the data released by the Labor Department on Tuesday.
The figure came in at 9.61 million, higher than 8.92 million in July and also topped expectations for a decline to 8.8 million, which was not what the Federal Reserve was hoping for. The rise indicated that the economy was still running too quickly, which would require higher interest rates to slow it down.
3) US 10-year bond yield hits 16-year high
A U.S. benchmark mortgage rate and an investor confidence barometer, the 10-year bond yields, on Tuesday rose to the highest level not seen since 2007.
Marking its 16-year high, the 10-year bond yields climbed to 4.8% before slipping to 4.793%. Meanwhile, the 30-year Treasury yield rose as high as 4.924%, also the highest level since 2007.
