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01

Treasuries Slump in Oil-Driven Rout While Banking Stocks Rally

By Tony Seruga

Dollar retreats versus yen as U.S. payrolls, Italian vote loom
Brazilian assets tumble on politics; Asian index futures fall

The selloff in global bonds extended into December, while financial shares built on their post-U.S. election gains amid speculation Donald Trump’s policies will fuel inflation and spur growth. Crude oil climbed above $50 a barrel in New York.

Treasuries extended their steepest monthly loss since 2009 with key U.S. jobs data due Friday. Rising rates boosted banks, while technology shares fell as investors sold off a sector that had been one of 2016’s biggest equity-market winners before Trump’s victory buoyed industrial and financial stocks. Energy companies headed for their best two-day rally since June as crude broke above $50 a barrel. The dollar fell versus the euro and the yen as traders awaited the payrolls report and Italy’s referendum…

Treasuries Slump in Oil-Driven Rout While Banking Stocks Rally

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