Investors Look to Inflation Path, China Reopening: Markets Wrap
Investors will be looking to the outlook for inflation and China’s rapid shift from Covid Zero as markets open in Asia on Tuesday.
The offshore yuan advanced overnight after China announced it would drop quarantine for inbound travelers early next month. Most Group-of-10 currencies were little changed versus the dollar after small moves in thin liquidity on Monday.
US Treasuries will resume trading following an extended break since the close of a holiday-shortened session in the US on Friday. The benchmark 10-year yield climbed the most last week since early April, ending around 3.75%.
Investors are wary of price pressures from the tight labor market, while taking encouragement from data on Friday that showed the Federal Reserve’s closely watched measure of inflation cooling and consumer spending stagnating.
The S&P 500 and the tech-heavy Nasdaq 100 closed higher on Friday while still suffering weekly losses.
Benchmark equity indexes for mainland China, Japan, India and South Korea climbed on Monday. Most other key markets in the region including Hong Kong, Singapore and Australia were shut. Hong Kong and Australia remain closed Tuesday.
By: via Allies Fin Serve Stock Market
