Investors are showing signs of diversifying away from U.S. Treasuries as global debt levels hit a record of nearly $353 trillion by end-March, a report by the Institute of International Finance published on Wednesday found. IIF’s quarterly Global Debt Monitor said that strengthening international demand for Japanese and European government bonds contrasted with broadly stable demand for U.S. Tr
The dollar remained on the defensive on Thursday as hopes for a de-escalation in the Iran-US war supported oil-exposed currencies, while Tokyo resumed its verbal intervention in support of the yen keeping speculators cautious. Iran said on Wednesday it was reviewing a US peace proposal that sources indicated would formally end the war but leave unresolved key US demands that Iran suspend its
Gold prices held largely steady near a one-week high on Thursday as investors remained on the sidelines awaiting further details on a potential U.S.-Iran peace deal. Fundamentals Spot gold was unchanged at $4,688.16 per ounce, as of 0059 GMT, after rising about 3% on Wednesday to its highest level since April 27. US gold futures for June delivery rose 0.1% to $4,696.60. Iran said on
Oil prices rose over $1 on Thursday, rebounding from the previous day’s sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding. Brent crude futures were up 78 cents, or 0.8%, at $102.05 a barrel at0400 GMT. US West Texas Intermediate gained 76 cents, or 0.8%, to $95.84 a barrel. Both benchmarks slumped more than 7% on Wednesday, hitting two-week lows on optim
Federal Minister for Commerce Jam Kamal Khan held a detailed meeting with a delegation led by Marco Mariotti, President, CIS & Central Asia, Philip Morris International, to discuss key challenges facing Pakistan’s tobacco sector, including illicit trade, regulatory gaps, and export potential, according to an official statement on Thursday. During the meeting, the delegation briefed the minister