- While Asian equity indexes were split in cautious trade as investors assessed the danger of a recession and its potential influence on interest rates, US and European stock futures rose. Larger currencies fluctuated within small bands.
- Early on Monday, S&P 500 contracts increased by about 0.3% after the US benchmark reported a little gain on Friday. In Australia and Japan, shares increased modestly, while those in Hong Kong decreased by more than 1% after Sinopec reported lower full-year results and saw its shares fall as high as 7.7%.
- Profits at Chinese industrial companies fell in the first two months of the year as manufacturers were still recovering from a slump brought on by Covid. This negatively impacted sentiment.
- Officials are reportedly examining methods to increase the size of an emergency loan facility for US banks so that First Republic Bank would have more time to strengthen its balance sheet. But, bond market investors have already noticed the broader harm caused by the sector's decline. They are increasing their bets that a recession is imminent, and bets on any additional interest rate increases this year are being withdrawn as forecasts for rate reduction rise.
