- Asian stocks were mixed, while crude oil rose as investors assessed the possibility of tougher sanctions against Russia for alleged atrocities committed during its war in Ukraine.
- In Australia, stocks rose, but fell in Japan and South Korea, where faster inflation bolstered the case for more interest rate hikes. Futures in the United States and Europe fluctuated after the technology sector boosted Wall Street on Monday.
- The yen gained ground against the dollar after BoJ's Governor Kuroda stated that the currency's current movements are "quite rapid." In the group of ten currencies, the yen has been the worst performer this year.
- On renewed fears of supply disruptions as a result of the war, commodities such as oil have risen. The European Union is working on new sanctions against Russia, while the United States has said it may impose more sanctions this week. The allegations of war crimes were dismissed by Russia.
- Australian bonds rose and treasuries remained unchanged, indicating some haven demand amid the geopolitical turmoil. The focus is still on inverted Treasury yield curves, which point to an economic downturn if the Federal Reserve continues to raise rates aggressively to combat high inflation.
