- Bonds recovered some of their losses as investors braced for the highest rate hike in the US since 2000, as well as a wave of policy tightening by foreign central banks. Index futures in the US and European stocks have reversed earlier advances.

- After reaching a new high on Monday, the 10-year yield in the US remained near 3%. The benchmark rate in Germany surpassed 1% for the first time since 2015, while the similar yield on UK bonds surpassed 2% earlier on Tuesday. Bonds in Australia fell and the currency rose after the country's central bank raised borrowing prices more than many expected.

- Concerns about continuing inflationary spirals, as well as risks to the global economy from increasing yields, China's covid lockdowns, and Russia's war in Ukraine, are causing markets to swing back and forth. The Federal Reserve's plans to raise interest rates and shrink its balance sheet have put an end to the era of cheap money and forced money managers to rethink their investments.

-Fitch Ratings cut its forecast for China's 2022 GDP growth to 4.3%, from 4.8%.

- Hungary's Foreign Minister said Hungary will not vote for sanctions that would make Russian oil and gas shipments to Hungary impossible.

- RBA's Governor Lowe stated that they have mulled options including a 40 basis-point increase.