- The dollar's rally continued, while treasury yields held gains, weighing on stocks and commodities amid expectations for aggressive monetary tightening by the Fed to combat inflation.
- Equities fell from Tokyo to Sydney, with Chinese technology shares falling the most since 2020. Futures in the United States and Europe were in the red. The S&P 500 fell on Tuesday but remained above the 3,900 technical level.
- Australian and New Zealand debt fell following a treasury selloff aided by a slew of corporate debt offerings and solid US service-sector activity. The 30-year US yield is at its highest since 2014. The economic data fueled expectations of another 75 basis point Fed rate hike.
- The Bank of Japan said it would increase scheduled bond purchases as treasury yields rose due to the intensifying weakness in treasuries.