- Following a deal to prevent a government shutdown in the US that was reached over the weekend, US market futures rose along with Asian shares. Investors are anticipating Federal Reserve Chairman Jerome Powell's remarks for any indications of how much further rate increases are necessary.
- After US senators late on Saturday passed compromise legislation to keep the government functioning until November 17, futures contracts on the S&P 500 soared higher on Monday. While many Asian markets, including China and South Korea, were closed for holidays, Japanese equities increased.
- Investors also felt some relief as statistics released over the weekend revealed that manufacturing activity in China increased for the first time in six months, adding to indications that some sectors of the country's economy are regaining their footing. Exports from South Korea showed a slower drop.
- The strength of the dollar was roughly unchanged. The 10-year yield increased by four basis points to 4.61% as Treasury yields increased throughout the curve. The five-year yield increased by a comparable amount to 4.66%, approaching a 16-year high once more.
- On Wednesday, the Bank of Japan made the announcement that it would carry out additional government bond purchase operations. In response to the warning, the 10-year bond futures reduced their losses, while the yen held steady at roughly 149.8 yen to the dollar.
