- On Wednesday, Asian stocks failed to gain traction, while US and European share futures fell as a dismal revenue prediction from Microsoft added to risk aversion in global markets.
- Contracts for the Nasdaq 100 fell approximately 0.8% after the underlying index fell slightly on Tuesday. Futures for the S&P 500 and the Euro Stoxx 50 both declined. As inflation data worsened sentiment, Japan's Topix index wavered and Australian shares lost early gains.
- South Korea's Kospi index increased by more than 1% after the lunar new year vacations. Markets in Hong Kong and mainland China remain closed.
- Treasuries in Asia trading held gains following a surge in the US on Tuesday as investors sought safe havens.
- 10-yr rates in Australia and New Zealand plummeted more than 10 bps before reversing course to trade little changed. The shift came when inflation data for the two countries came in higher than expected, putting pressure on their central banks to maintain combating inflation aggressively.
