- Asian stocks were neutral on Tuesday, as traders considered the durability of the economic recovery against inflationary risks, as well as warnings about rising asset prices. Treasury yields have fallen.
- Shares in Japan and China were little changed, and Hong Kong rose moderately, but US futures fell. The S&P 500 gained overnight, marking its longest winning streak since 2017, although a decline in Tesla weighed on the Nasdaq 100. In a report, the Federal Reserve warned that asset prices could fall if sentiment deteriorates.
- Treasury yields fell after it was revealed that Fed's Brainard had been interviewed for the top job at the US central bank. Meanwhile, the yield on 30-year treasury inflation-protected securities fell to a record low, indicating persistent concerns about global pricing pressures.
- In the world of cryptocurrencies, bitcoin surpassed $67,000 for the first time, setting a new all-time high. This is part of a larger surge in digital tokens, which has pushed their total market worth beyond $3 trillion.
