- Asia's stocks fell while Treasury yields and the dollar rose, indicating that investors have yet to fully adjust their interest rate expectations.
- Japan's, Australia's, and China's equity benchmarks all fell, while a drop in South Korean equities dragged the Kospi Index to a six-month low. The Hang Seng Index in Hong Kong fell as well, falling as much as 0.9% to its lowest level since late November.
- A Chinese property developer index fell after falling by the most in nine months on Monday, amid new signs of turmoil in the sector. Former executives were detained after China Evergrande failed to make a debt payment. This fueled concerns about the sector's debt pile and fueled fears that global growth would stall as the world's second largest economy sputtered.
- Treasury yields rose further on Monday, with the 10-year yield rising 11 basis points to a 16-year high of 4.54%. The trend continued into Asia, with yields in Australia and New Zealand rising as well.
- The yen stabilised after falling to a year low after Bank of Japan officials reiterated that stimulus is still required.
