Bond Selling Lull Continues as Investors Await US Jobs Data

The lull in bond selling continues as investors await U.S. jobs data that could influence interest rate decisions. Oil prices have provided relief with Brent crude futures falling from their recent high. The Asia-Pacific shares outside Japan have risen, while Tokyo’s Nikkei remains flat. The dollar is on track for its 12th straight week of gains, and U.S. Treasury yields have remained steady. Analysts believe that the recent bond sell-off may reverse due to tighter financial conditions. Investors are cautious ahead of the release of U.S. non-farm payrolls data. If there is another round of bond selling, it will strengthen the dollar even further. The beleaguered yen has shown some resistance, and a sudden jump in the Japanese currency has sparked speculation of intervention. Gold has remained steady amidst rising global bond yields. Australian fund manager Magellan Financial Group’s shares dropped to a decade-low as its assets under management continued to decline.