Oil held its largest gain in more than a week on rising tensions in the Middle East, with a fresh attack on shipping in the Red Sea prompting vessels to avoid the key shipping route. West Texas Intermediate traded above $75 a barrel after rising by 2.7% on Tuesday, with global benchmark Brent near $81. The…
Asia-Pacific stocks bounced Wednesday, with Australia stocks hitting a near two-year high, as more markets return from a Christmas break. Australia’s S&P/ASX 200 index gained 0.8% to hit its highest level since late April 2022, as trading resumed for the week. The index is eying yearly gains of over 7%. Aussie stocks have been buoyed…
Gold was steady after an auction of Treasury notes on Tuesday, with markets bracing for an aggressive path of Federal Reserve interest-rate cuts in 2024. Buyers piled in to sales of US bonds on Tuesday, with the auction for two-year debt priced below its when-issued yield — a sign of greater-than-expected demand. Investors are grabbing prevailing yields before…
