In Asian Equity Markets indices traded mixed Thursday morning. In Japan, the Nikkei 225 rose 0.17% in early trade while the Topix index declined 0.12%. Over in South Korea, the Kospi added 0.63% as shares of Hyundai Motor jumped 1.57%. Meanwhile, Australia’s S&P/ASX 200 fell 0.75%. Overall, the MSCI Asia ex-Japan index declined 0.09%. Overall, the MSCI Asia ex-Japan index declined 0.09%.


In Currency Markets the yen stood tall on Thursday, after global central banks startled markets with heavy rate cuts and threats of more to come as world economic risks grow, boosting the appeal of the safe-haven Japanese currency. The New Zealand and Australian dollars clawed back some of their heavy losses from the previous session. On Wednesday, both currencies tumbled after the Reserve Bank of New Zealand stunned markets with a bigger than expected interest rate cut and flagged the possibility of negative rates.


In Commodities Markets oil futures jumped more than $1 a barrel on Thursday amid a weaker dollar, recovering ground after concerns that a global economic slowdown would hurt crude demand sparked losses of over 4% in the previous session. Brent crude had rebounded to $57.52 a barrel, up $1.29, or 2.29%, from its last close , while U.S. crude futures jumped $1.30, or 2.54%, to $52.39 a barrel. Both contracts hit their lowest levels since January on Wednesday after a surprise build in U.S. crude inventories.


In US Equity Markets the S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.  The S&P 500 gained 0.08%, to 2,883.98 and the Nasdaq Composite added 0.38%, to 7,862.83. The energy sector was down 0.8% after oil prices slid. On the plus side, CVS Health Corp shares climbed 7.5% after the drugstore chain raised its full-year profit forecast.


In Bond Markets U.S. Treasury yields reduced their earlier decline on Wednesday following soft demand for $27 billion in 10-year notes, which was the second leg of this week’s $84 billion in quarterly refunding. U.S. benchmark 10-year Treasury yields on the open market was 8.60 basis points lower at 1.653%. They touched 1.595% earlier Wednesday, which were their lowest since October 2016.

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