- Stocks in Asia were neutral, with investors weighing Chinese stimulus measures against the possibility of faster Fed policy tightening to combat inflation.
- As investors reviewed efforts to combat headwinds in the economy caused by Covid-led lockdowns, shares in Japan and South Korea rose, while Hong Kong fell and China fluctuated. Futures in the US rose after equities closed little changed in light trade on Monday.
- Treasury rates fell after the long end of the market fell on Monday. While 75 bps rate hikes aren't the most likely scenario, St. Louis Fed President James Bullard said they shouldn't be ruled out because the central bank needs to act rapidly to battle inflation. Bond yields in Australia have increased.
- The dollar made gains. The yen is on its longest losing streak in more than a half-century. Oil has given up some of its gains from the previous day.
