- As China's markets reopened after a holiday, Asian stocks were mixed, while the prospect of global monetary tightening continued to weigh on bonds.
- Chinese stocks rose about 2%, catching up to gains in global equities last week and helping to limit losses in an asia-pacific equity index. Futures on the S&P 500 and the Nasdaq 100 fell slightly.
- Following a strong jobs report in the United States, markets now expect the Federal Reserve to raise interest rates by more than five quarter points in 2022 in order to contain inflation. Treasuries mostly maintained their losses from the previous week, while Australian bonds fell.
- A dollar index was stable. China's yuan fixing was set at a lower-than-expected level. The ongoing rally in oil prices has come to a halt at around $92 per barrel. Bitcoin surpassed $42,000 for the first time in over two weeks.
