Asian shares hit 11-month low on Middle East anxiety, surging yields

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Key Points

SYDNEY (Reuters) Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further...

On Friday, the Bank of Japan intervened in the Japanese government bond (JGB) market as the 10-year JGB yield touched a decade high...

A much-watched speech overnight from Federal Reserve Chair Jerome Powell led to a choppy market response, although most investors leaned further into bets that the Fed will extend its rate pause in November...

On the geopolitical front, fears of a spreading regional conflict are rising after the U.S. intercepted three cruise missiles and several drones launched by the Iran-aligned Houthi movement from Yemen potentially toward Israel...

The markets are shuffling nervously as they await a move: gold and oil, as the most apparent indicators of sentiment towards the conflict, continue to rise.. Gold prices scaled a fresh two-month peak of $1982.09 per ounce, the highest since late July, as investors sought safe-haven assets in the turmoil...

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