In Asian Equity Markets stocks traded mostly lower on Monday, as investors kept an eye on rising U.S. Treasury yields and digested declines in technology stocks seen stateside. The Nikkei 225 fell 0.28 percent while the broader Topix was flat. Among sectors, insurers, banks and shippers traded in positive territory, while technology was a mixed bag. The Kospi was off by 0.19 percent, with automakers and retailers declining as steelmakers climbed. In Australia, the S&P/ASX 200 advanced 0.41 percent as the financials sub-index and gold producers led gains on the index. Hong Kong’s Hang Seng Index eased 0.36 percent as slight gains in financials were erased by losses in the technology sector.

In Currency Markets the US dollar traded near a two-week high against a basket of major currencies on Monday, bolstered by rising U.S. bond yields, while easing concerns over global political risks weighed on the safe haven yen. Against the yen, the dollar hit a two-month high of 107.89 yen, and last changed hands at 107.85 yen, up 0.2 percent from Friday. Sterling last traded at $1.4010, up 0.1 percent on the day. Last week, it fell 1.7 percent. The pound fell last week on weaker-than-expected inflation and retail sales data and comments from BOE Governor Mark Carney on Thursday, which traders interpreted as the BOE’s being less committed to raising rates in May due to recent “mixed” data.

In Commodities Markets oil prices were steady on Monday as a rising U.S. rig count pointed to further increases in American output, marking one of the few factors tamping back crude in an otherwise bullish environment. Brent crude oil futures were at $74.07 per barrel, unchanged from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 3 cents at $68.37 a barrel. U.S. drillers added five oil rigs drilling for new production in the week ended April 20, bringing the total count to 820, highest since March 2015. The rising rig numbers point to further increases in U.S. crude production, which is already up a quarter since mid-2016 to a record 10.54 million barrels per day (bpd).

In US Equity Markets stocks fell on Friday, as Apple led a decline in technology stocks on concerns about weak iPhone demand and investors worried about the impact of a rise in U.S. bond yields. Apple fell 3.8 percent and was the biggest drag on the major indexes after Morgan Stanley estimated weak demand for its latest iPhones, adding to fears raised by Taiwan Semiconductor of softer smartphone sales. Microsoft, Intel and Cisco were the other big decliners, leading to a 1.6 percent decline on the S&P technology index, its third straight day of decline. The S&P 500 was down 0.89 percent, at 2,669.16 and the Nasdaq Composite was down 1.27 percent, at 7,146.23.

In Bond Markets the 10-year Treasury yield reached its highest level since March 21 as the bond selloff continued for a second day on Friday, driving the yield curve steeper after two weeks of flattening. The supply of Treasury notes is set to increase with auctions of the two-year, five-year and seven-year bonds this week. The two-year Treasury yield was last at 2.449 percent, above its last close. The 10-year Treasury yield was last at 2.945 percent, a monthly high, though still below the 2.957 percent of Feb. 21, which was the highest level since January 2014.