Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Asian equities rose on Tuesday, with US equities hovering around record highs as investors watched the start of the corporate earnings season and relatively good public debt sales.
Shares rose in Hong Kong and Japan and fluctuated in China. US equity contracts were steady after a slight decline in the S&P 500 after three consecutive weeks of gains. Technical actions have weakened, led by Intel Corp. Nvidia Corp. entered its microprocessors market.
Bond yields rose only slightly after U.S. Treasury auctions for three- and 10-year banknotes attracted decent demand. The government is offering 30-year bonds on Tuesday.
A positive outlook for US growth should help corporate gains, although equities appear precarious at these record highs, given increases in the Covid-19 and vaccine launches in parts of the world. The potential for sharper increases in inflation and borrowing costs is also the most important, with investors focusing on US consumer price data and the strength of demand for the rest of the Treasury bond auction.
“The real test will be when inflation starts to rise further,” said Priya Misra, global head of rate strategy at Bloomberg TV’s TD Securities. “Then the rates will have to be repeated – either for a faster exit from the Fed or for a later exit, but for a faster path.”
Elsewhere, President Joe Biden told companies that they are fighting for a highly constrained global semiconductor supply. bipartisan support for government funding to address a shortage that has caught the attention of carmakers around the world. Treasury Secretary Janet Yellen will do just that refuses to name China as a currency manipulator in its first half-yearly foreign exchange report, according to people familiar with the matter, allowing the US to avoid a new conflict with Beijing.
Oil remained below $ 60 a barrel, and the dollar rose. Bitcoin climbed back over $ 60,000 before listing the largest cryptocurrency exchange in the United States.
US Treasury Secretary Janet Yellen will refuse to name China as a currency manipulator, according to people familiar with the matter. Saleha Mohsin reports on “Bloomberg
East: Australia. ”(Source: Bloomberg)
Some key events to watch this week:
- Banks and financial firms are starting to report first-quarter earnings, inclusive JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Morgan Stanley, Goldman Sachs Group Inc.
- The US released inflation data on Tuesday.
- Washington’s Economic Club hosts Fed Chairman Jerome Powell for a moderate questions and answers on Wednesday.
- The US Federal Reserve launches the Beige Book on Wednesday.
- US data, including initial claims for the unemployed, industrial production and retail sales come on Thursday.
- China’s economic growth, industrial production and retail sales figures are on Friday.
These are some of the main movements in the financial markets:
Inventories
- The S&P 500 futures was flat at 10:37 a.m. in Tokyo. The index changed slightly on Monday.
- Japan’s Topix index rose 0.5%.
- The Shanghai Composite Index has changed slightly.
- The Hang Seng index rose 0.6%.
- The Kospi index in South Korea rose 0.7%.
- The Australian S & P / ASX 200 index was 0.2% higher.
currencies
- The Bloomberg Dollar Spot index rose 0.1%.
- The yen fell 0.2% to $ 109.57.
- The euro fell 0.1% to $ 1.1900.
- The offshore yuan was $ 6.5497.
BONDS
- The 10-year Treasury yield increased by one basis point to 1.67%.
- Australia’s 10-year yield was two basis points higher at 1.80%.
commodities
- West Texas Intermediate Oil was consistently at $ 59.71 a barrel.
- Gold was 0.1% lower at $ 1,731.07 an ounce.
– With the assistance of Vildana Hajric, Claire Ballentine and Katherine Greifeld