In Asian Equity Markets indices were mixed in Tuesday morning trade, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.19 percent in morning trade, with shares of index heavyweights Fast Retailing and Softbank Group advancing more than 1 percent each. Shares of Japanese telcos Softbank Corp and NTT Docomo both jumped more than 3 percent each after the latter announced price cuts that were smaller-than-expected.
In Currency Markets major currencies remained confined to well-trodden ranges on Tuesday, as markets look next to European and Chinese data for more evidence that the worst may be over for the global economy. The yen remained close to 2019 lows against the U.S. and Australian dollars after investors reduced exposure to the safe-haven currency to seek higher yields elsewhere. The dollar was unchanged at 112.00 yen. It traded less than a sixth of a percent off the year’s high of 112.135 yen hit in early March.
In Commodities Markets oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight for market share, checking a recent sharp rally driven by tighter global production. Brent crude oil futures were at $71.08 a barrel, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday. U.S. West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, down 2 cents, or 0.1 percent, from their previous settlement. WTI fell 0.8 percent on Monday.
In US Equity Markets indices lost ground on Monday, dragged down by financials as underwhelming bank earnings curbed investor enthusiasm. The S&P 500 lost 0.06%, to 2,905.58 and the Nasdaq Composite fell 0.1%, to 7,976.01. Of the 11 major sectors in the S&P 500, six ended the session in the red. Financials were the biggest percentage losers, closing down 0.6% and snapping their three-day winning streak. Waste Management Inc rose 2.4% following its announcement that it would buy smaller rival Advanced Disposal Services Inc for about $3 billion.
In Bond Markets U.S. long-dated Treasury yields slipped from four-week highs on Monday in choppy trading, ahead of U.S. data in a holiday-shortened week that will give some guidance on whether the world’s largest economy could tip into recession in the near future. Financial markets are closed on Friday for the Good Friday holiday. U.S. 10-year note yields slipped to 2.55%, down from 2.56% late on Friday. Yields on U.S. 30-year bonds were also lower at 2.96% , down from 2.971% on Friday.