- As investors assessed the trajectory of central banks' monetary policy tightening aimed at containing inflation, Asian stocks traded mixed.
- Japan and Australia's equities have fallen. Hong Kong technology shares rose after a gauge of Chinese companies traded in the US gained 2% in the previous two trading sessions. China fluctuated between gains and losses as Beijing relaxed Covid-19 restrictions. US futures were choppy.
- Treasury yields have levelled off. Strong hiring in May suggested that the Federal Reserve will not slow its pace of steep interest-rate hikes to control inflation. The next focus will be on consumer prices, which are due this week and can help determine whether US inflation has peaked. A dollar index was stable.
- As supply concerns persist, crude oil traded near $120 per barrel. Saudi Arabia raised prices for its largest Asian market more than expected, and the United States was considering allowing more sanctioned Iranian oil onto global markets to compensate for a drop in Russian supplies.
