- After the nation's sovereign wealth fund purchased exchange-traded funds to shore up the market, Chinese stocks outperformed Asian equities. Treasuries have stabilized after a volatile session on Monday.
- Asian stocks were mixed following the lowest S&P 500 close since May, with equities in Japan, South Korea, and Hong Kong paring losses of more than 1%. Oil eked out a gain as the next stage of the Israel-Hamas conflict remained unknown.
- The CSI 300 Index was little changed, while Shanghai and Shenzhen gauges rose. Treasury 10-year yields remained stable, despite some of the market's most prominent bears claiming that the historic sell-off in US government bonds had gone too far. Yields fell below 5% on Monday, fuelled by expectations that the Federal Reserve will keep rates high and the government will increase bond sales to cover growing deficits.
