- Asian stocks climbed as shares in the US recovered and China announced measures to help slowing economic growth. After falling, treasuries have stabilised.
- As Japan rose, MSCI's pacific share index rose for the first time in three days. Hong Kong advanced, with Alibaba Group spearheading a recovery in Chinese technology firms following the company's announcement of a management shakeup. US futures wavered. The S&P 500 erased last week's losses, while the technology-heavy Nasdaq 100 recovered as well, buoyed by fading concerns about the severity of the omicron virus variant.
- China's policymakers sought to increase economic support, as a housing market collapse threatens to stifle growth. They announced a relaxation of real estate restrictions and promised to stabilise the economy by 2022. The PBoC announced that it will cut the reserve requirement ratio for most banks, while Premier Li Keqiang stated that there is opportunity for a variety of monetary policy measures.
- Treasury rates jumped strongly, reversing most of Friday's big reductions, despite corporate bond sales. The yield curve steepened, reversing a trend in which expectations for Fed rate hikes had boosted short-dated yields. The currency fluctuated, as oil extended its gains.
