Investors now struggling to find true safe havens
London
WORKING out what is truly safe has become a risky business. Traditional boltholes such as US and German bonds or the Swiss franc are benefiting less than might be expected from the huge gyrations in equities or the concerns that China's economy is slowing.
When stock markets wilted on Aug 24, money flowed into the large, liquid US and German government debt markets, as might be expected. But it appeared to exit even more quickly when equities rebounded the following day. In fact, the 10-year yields in both countries are higher than they were at the end of last week, even though stocks have slid since then.
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Capital Markets & Currencies
US dollar gains ground; subdued yen prompts Japan warning
Banks slip on Wednesday as STI falls 1.1%
Asia: Markets mixed as traders weigh rates outlook
SGX securities turnover jumps 37% in April; derivatives activity continues to gain ground
Singapore shares dip at Wednesday’s open; STI down 0.4%
Stocks to watch: UOB, DBS, Olam, Far East Orchard, Daiwa House Logistics Trust, Manulife US Reit