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- Asian equities fell on Wednesday, while treasury yields rose as traders evaluated the economic rebound against the prospects of rising inflation fueled by rising energy prices. The value of the dollar increased.
- shares slid in Japan, Hong Kong, South Korea and Australia. the regional performance contrasted with an overnight wall street rebound spurred by bargain-hunting for technology stocks, which had endured the brunt of a recent selloff. S&P 500 and NASDAQ 100 futures declined.
- The 10-year Treasury yield rose to 1.55%, while the 30-year yield hit its highest level since June. Faster-than-expected service-sector activity in the United States, as well as price pressures from skyrocketing crude oil and natural-gas prices, are bolstering the case for a reduction in the Federal Reserve's bond-buying program. For further clues on the outlook, traders are waiting for labor market statistics later this week.
- Concerns over China's highly leveraged property industry continue to cast a pall over the country's overall mood. The markets around the country are closed for the holiday and will reopen on Friday. New Zealand raised interest rates for the first time in seven years and hinted at more hikes, whipsawing the currency.
