- Asian equities rose in response to a bounce in the US as Federal Reserve Chair Jerome Powell reassured investors that the central bank will combat inflation in order to sustain the economic growth.
- Japan and Hong Kong stocks led increases across the region. The Hang Seng Tech index rose to its highest level in nearly a month, after overnight increases in US-listed Chinese technology stocks.
- Chinese stocks crept higher after inflation came in lower than expected, adding to calls for interest rates to be cut.
- Futures in the US varied as the S&P 500 reversed a five-day decline and the Nasdaq 100 outperformed.
- Treasuries found support following a strong three-year note selling. The yield on the 10-year note fell, while the yield curve flattened.
- The dollar remained stable after falling, and commodity-linked currencies such as the Australian dollar stabilised after rising alongside oil prices.
