Key Points
NEW YORK (Reuters) Global stock indexes advanced on Monday, with U.S. stocks rallying more than 1% after recent sharp declines, while the yen rose to a two-week high against the dollar after a report that the Bank of Japan is considering tweaking its yield curve control policy...
The Nikkei report, that the BOJ is considering adjusting its yield curve control policy to allow the 10-year Japanese government bond yield to rise above 1%, pushed the yen to 148.81 per dollar, its strongest level since Oct. 17...
The recent surge in global interest rates has heightened pressure on the BOJ to change its bond yield control policy...
If the BOJ does not do anything tomorrow, which I think thats what economists expect, and just wait until December, I think the dollar jumps right back versus the yen, said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York...
In U.S. Treasuries, yields pared gains after the Treasury Department said it expects to borrow $76 billion less this quarter than anticipated in the third quarter on expectations of higher revenue receipts...
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