In Asian Equity Markets indices fell on Tuesday amid uncertainty about the future of U.S.-China trade relations. In Hong Kong, the Hang Seng index traded lower by 0.25 percent. Japan’s Nikkei 225 declined by 0.52 percent in morning trade while the Topix index shed 0.81 percent. Shares of automaker Nissan fell 0.35 percent following a Reuters report that the company’s external board is set to meet today to discuss a replacement for arrested former Chairman Carlos Ghosn. Meanwhile in South Korea, the Kospi fell 0.68 percent.

 

In Currency Markets the US dollar weakened against its major peers on Tuesday, as the thaw in trade tensions between Washington and Beijing supported investor confidence though concerns about the fragility of the Sino-U.S. truce capped wider gains in risk assets. The dollar fell 0.16 percent against the offshore yuan to 6.8631. On Monday, it lost 1.07 percent, its steepest percentage fall since Aug. 25. The yen traded at 113.31, with the greenback losing 0.3 percent versus the Japanese currency.

 

In Commodities Markets oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. The 90-day truce in the trade dispute between the United States and China was also still supporting markets, traders said. U.S. West Texas Intermediate (WTI) crude futures were at $53.35 per barrel, up 40 cents, or 0.8 percent, from their last close. International Brent crude oil futures were up 40 cents, or 0.7 percent, at $62.09 per barrel.

 

In US Equity Markets major indexes rallied on Monday following a truce between the United States and China in their trade dispute, which has clouded the outlook for the stock market for much of the year. Shares of Boeing and Caterpillar, two industrial companies viewed as trade bellwethers, gained 3.8 percent and 2.4 percent, respectively, and gave a lift to the blue-chip Dow. The industrial sector rose 1.2 percent. The S&P 500 gained 1.09 percent, to 2,790.37 and the Nasdaq Composite added 1.51 percent, to 7,441.51.

 

In Bond Markets yields of longer-dated U.S. Treasuries extended their decline on Tuesday following a sharp overnight decline, pushing the two-year/10-year yield spread to a new 11-year low. The benchmark 10-year Treasury note yield fell about 6 basis points to 2.498 percent, its lowest since Sept. 13. The spread between two-year and 10-year yields continued to flatten and fell below 14 basis points, the flattest since July 2007.

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