In Asian Equity Markets mainland Chinese shares declined in early trade on Monday amid uncertainty on the U.S.-China trade front, after tariffs on Chinese goods were raised last Friday. The Shanghai composite fell more than 1%. The Nikkei 225 in Japan declined 0.56% in morning trade, with shares of index heavyweight Softbank Group falling more than 1%. The Topix index also fell 0.15%. In South Korea, the Kospi fell 0.74%, while Australia’s ASX 200 also shed 0.35%. Markets in Hong Kong are closed on Monday for a holiday.

In Currency Markets the safe-haven yen edged higher and the Chinese yuan and Australian dollar fell early on Monday after the latest escalation in the trade war between the United States and China. The Chinese yuan weakened about 0.3 percent to 6.866 per dollar in offshore trade, its lowest in four months. The Australian dollar shed 0.15 percent to $0.6990. The dollar lost 0.1 percent to 1.010 Swiss francs, a safe haven along with the yen, after going as low as 1.009 on Friday, its weakest in nearly a month.

In Commodities Markets oil futures edged down on Monday, pressured by fears over global economic growth amid a standoff in Sino-U.S. trade talks. Brent crude futures were at $70.49 a barrel, down 12 cents, or 0.2 percent, from their last close. Brent ended the previous session little changed. U.S. West Texas Intermediate (WTI) crude futures were at $61.31 per barrel, down 27 cents, or 0.4 percent, from their previous settlement. WTI closed the last session steady on the day. The United States and China appeared at a deadlock over trade negotiations on Sunday.

In US Equity Markets stocks rebounded from early losses on Friday to snap a four-day losing streak after U.S. President Donald Trump and Treasury Secretary Steven Mnuchin said trade talks between the United States and China were “constructive.” The S&P 500 gained 0.37%, to 2,881.4 and the Nasdaq Composite added 0.08%, to 7,916.94. Uber Technologies Inc shares fell 7.6% after having opened below their initial public offering price in the ride-hailing company’s long-awaited market debut.

In Bond Markets U.S. Treasury yields were little changed on Friday, with longer-dated yields hovering at five-week lows, as worries about trade tension between China and the United States simmered down even in the absence of a deal following two-days of negotiations. Benchmark 10-year Treasury yields edged up 0.3 basis point to 2.4601%. They fell to a five-week low of 2.424% on Thursday. On the week, 10-year yields fell 7 basis points, the steepest drop in seven weeks. Two-year Treasury yields fell 1 basis point to 2.2579%, bringing its weekly decline to 8 basis points.