- Asian stocks held steady buoyed by reports that indebted developer China Evergrande Group may meet a key payment deadline.
- Treasuries recovered from a drop caused by inflation fears.
- Equities advanced in China, Hong Kong and Japan.
- According to local media, Evergrande transferred interest on a dollar bond prior to the end of a closely watched grace period. The report caused the yen to fall, the offshore yuan to rise, and the Australian dollar to strengthen. Concerns have been raised about the possibility of contagion from the firm's default.
- The S&P 500 rose to a record overnight, but the mood soured after the cash session when Snap Inc., the owner of the Snapchat app, fell on a tempered earnings outlook, weighing on other technology shares in late trading.
- Nasdaq 100 futures retreated, while S&P 500 contracts were little changed.
- The 10-year US Treasury yield pared a climb but remains higher for the week.
- The Federal Reserve is nearing a reduction in its bond-buying programme, and traders are increasing their bets on rate hikes to alleviate price pressures.
- Market implied expectations for inflation have hit multiyear highs.
- The dollar fell.
