TOKYO: US Treasuries eased in Asia on Friday, as regional share prices rose after the Group of Seven (G7) finance ministers agreed on joint intervention to curb the yen's strength, although the bonds drew continued support from anxiety about Japan's nuclear disaster and concerns over Libya after the United Nations authorised military strikes in the country.
The dollar climbed more than three percent on Friday and regional shares, led by Japanese stocks, climbed after the G7 agreed on rare concerted intervention to restrain a soaring yen and calm global markets as Japan scrambled to prevent a meltdown at a nuclear power plant.
As the G7 action boosted Japanese and other regional shares, US Treasuries came off in Asian trade.
Still, investors' nerves remained frayed over whether Japan can avert a catastrophic release of radiation from a crippled nuclear power plant north of Tokyo.
Investors are also wary of air attacks on Libya by NATO countries after the UN Security Council voted on Thursday to authorise a no fly zone over Libya and "all necessary measures" code for military action to protect civilians against leader Muammar Gaddafi's forces.
The yield on 10 year US Treasuries rose to around 3.29 percent from 3.26 percent in late US trade.
Comments
Comments are closed for this article.