Asian shares decline as U.S. jobs data clouds global outlook;
Asian shares pulled back on Monday after U.S. employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed from Friday’s three-week low. Japan’s Nikkei gained 0.4 percent in early trade after four consecutive sessions in the red last week. Wall Street’s main indexes posted their biggest weekly decline since the market tumbled at the end of 2018 last week, falling for the fifth consecutive day on Friday on the shocking payrolls data. The U.S. economy created only 20,000 jobs in February, the weakest reading since September 2017. As a result, bond yields dropped, with the 10-year Treasuries yield hitting a two-month low of 2.607 percent. Read More @ https://www.reuters.com/article/us-global-markets/asian-shares-decline-as-u-s-jobs-data-clouds-global-outlook-idUSKBN1QS02E?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE PHILIPPINE PSEi SAYING?
Powell: Fed not in ‘any hurry’ to change rates amid global risks – tv
Federal Reserve Chairman Jerome Powell said on Sunday the U.S. central bank does “not feel any hurry” to change the level of interest rates again as it watches how a slowing global economy affects local conditions in the United States. Rates are currently “appropriate,” Powell said in a wide-ranging interview with CBS’s 60 Minutes news show in which he called the current rate level “appropriate” and “roughly neutral,” meaning it is neither stimulating or curbing the economy. An economic slowdown in China and Europe and other global issues currently pose the largest risks to an otherwise healthy U.S. outlook, he said, though even in those place he felt “very negative outcomes” were not likely. The interview – roughly eight years after former Chair Ben Bernanke appeared on the same show to discuss the Fed’s aggressive actions during the deep 2007 to 2009 recession – crossed a range of issues, including the health of the financial system, the impact of the opioid crisis on the work force, and President Donald Trump’s aggressive criticism of central bank rate hikes. Reuters.
OUR VIEW & COMMENTS
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