In Asian Equity Markets stocks fell on Tuesday as jitters about an escalation in Sino-U.S. tension with U.S. House of Representatives Speaker Nancy Pelosi set to begin a trip to Taiwan, adding to fears about the risk of global recession. Japan’s Nikkei slid 1.54 percent, while Taiwan’s stock index fell 1.87 percent. Chinese blue chips lost 2.47 percent and Hong Kong’s Hang Seng lost 2.71 percent. However, Australia’s equity benchmark was just 0.23 percent lower, after an earlier decline of 0.7 percent. MSCI’s broadest index of Asia-Pacific shares retreated 1.33 percent.

In Currency Markets the Taiwan dollar hovered around two-year lows ahead of a potential trip by U.S. House Speaker Nancy Pelosi to the country on Tuesday, with most Asian currencies sticking to tight ranges amid caution over rising Sino-U.S. tensions. The Taiwan dollar rose slightly in morning trade, but remained pinned around 30- a level last seen in mid-2020. China’s yuan was largely unchanged around 6.7704 to the dollar. The Japanese yen was an outlier among its Asian peers, rising as much as 0.7 percent amid growing safe haven demand. The dollar index fell 0.2 percent.

In US Equity Markets stocks ended lower after a choppy session on Monday, with declines in Exxon Mobil and other energy companies weighing against gains in Boeing as investors digested the U.S. stock market’s biggest monthly gains in two years. The S&P 500 declined 0.28 percent to end the session at 4,118.59 points. The Nasdaq declined 0.18 percent to 12,368.98 points, while Dow declined 0.14 percent to 32,798.60 points. Boeing Co gained 6.1 percent after the U.S. aviation regulator approved the planemaker’s inspection and modification plan to resume deliveries of 787 Dreamliners.

In Commodities Markets oil prices fell about 4 percent on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Brent crude futures fell 3.8 percent, to settle at $100.03 a barrel. U.S. WTI crude fell 4.8 percent to settle at $93.89 a barrel. Spot gold was up 0.2 percent at $1,768.44 per ounce. Elsewhere, spot silver fell 0.4 percent to $20.24. Platinum gained 0.7 percent to $903.49, and palladium jumped more than 3 percent to $2,196.65.

In European Equity Markets stocks edged down on Monday, dragged lower by energy stocks amid fears of a global economic slowdown fanned by disappointing Chinese economic data and figures showing contraction in euro zone manufacturing activity. The pan-European STOXX 600 fell 0.1 percent after a choppy trading day, reversing slim earlier gains. Heineken NV fell 0.4 percent as the world’s second-largest brewer shelved its margin target for 2023 as costs spiked. Pearson jumped 12.7 percent to top the benchmark index after the British education group reiterated its full-year profit outlook.

In Bond Markets U.S. Treasury yields slid on Monday in thin, choppy trading, with the benchmark 10-year yield hitting a four-month low, as manufacturing and construction data pointed to a slowdown that could prompt the Federal Reserve to slow its interest rate increases. In afternoon trading, the benchmark U.S. 10-year yield fell nearly 4 bps to 2.6073 percent after earlier falling to 2.586 percent, the lowest since early April. The two-year U.S. Treasury yield was flat at 2.9126 percent. U.S. 30-yields were down nearly 5 bps at 2.9286 percent, after earlier sliding to 2.925, the lowest since late May.

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