- As traders anticipated inflation statistics that could affect views on how forcefully the Federal Reserve will tighten monetary policy, Asian equities remained stable, while US share futures fell.
- In Japan, stocks rose, but in Hong Kong and China, they dipped. The region failed to capture all of the positive momentum from Wall Street, where the S&P 500 extended its rally on Wednesday and the Nasdaq 100 gained more than 2%. In late trade, Uber and Walt Disney both climbed on strong earnings.
- Following a solid auction, the 10-year US Treasury rate dipped. Since October 2020, the spread between two-year and 10-year yields has been narrowing. The value of the dollar increased little.
- The surge in oil has come to a halt around $90 per barrel. Demand for gold as a store of value soared to a two-week high, owing to fears about inflation and geopolitical tensions.
