- Asian stocks rose Tuesday, mirroring Wall Street advances, as immediate concerns about the global banking system's health faded.
- Shares increased in Hong Kong, South Korea, and Australia, helping a regional equity index gain 0.5%. Banking stocks outperformed the broader index, providing some respite after several days of volatility.
- The S&P 500 and Nasdaq 100 futures were little changed after briefly rising on rumours that US officials were looking into measures to temporarily guarantee all bank deposits if the current financial crisis worsened.
- The dollar held steady on Tuesday after a gauge of the currency's strength fell to its lowest level in a month on Monday. This happened as anticipation mounted that the Federal Reserve would take a more cautious stance when it votes on interest rates on Wednesday.
- Government bond rates in Australia and New Zealand fell on Monday after Treasuries oscillated throughout the global trading day. The release of board minutes indicating that Australia's central bank may consider pausing rate hikes next month knocked on the country's yields.
- The policy-sensitive 2-yr Treasury yield was 14 bps higher on Monday, closing just below 4%. Due to a holiday in Japan, there will be no trading of cash Treasuries during Asia hours on Tuesday.
