- The market pondered a rising argument about whether inflation is peaking, which triggered a surge in treasuries, while Asian equities traded mixed and US futures gained.
- Equities opened slightly higher in Japan, but lower in Hong Kong and China, where investors are hoping for additional policy support. Futures on the S&P 500 and Nasdaq 100 climbed as good earnings from Tesla and United Airlines provided an antidote to a subdued session in the US.
- Long term yields fell sharply as investors such as Bank of America and Nomura Asset Management saw this as a buying opportunity following the recent crash. Ten-year yields have retreated sharply. As the yen resumed its slump, a dollar index mitigated its losses.
- After the Nasdaq golden dragon china index representing the nation's shares trading in the US sank nearly 5%, technology stocks in Hong Kong fell for a third day. Chinese initiatives to offset the impact of economic lockdowns have so far failed investors.
