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Asia Stocks Set for Mixed Start; Treasuries Steady: Markets Wrap
(Bloomberg) -- Asian stocks are set for a muted open on Tuesday after U.S. shares ended flat on a mixed day for global economic data. Treasuries were steady.Futures edged lower in Japan and Australia, and rose in Hong Kong. U.S. contracts climbed in early Asia trading after the benchmark was little changed on below average volume Monday. Economic data was largely in line in the U.S. though far short of estimates in Germany and France, sending stocks in Europe down. American money-market interest rates held steady.U.S. data bolstered confidence that recession signals emanating from the bond market are overdone, while gloomy data from the heart of the euro area was a stark reminder to investors of the fragility of the global economy. While markets remain on edge ahead of next month’s planned high-level trade talks between the U.S. and China, they’re also fixated on any action or messaging from the world’s major central banks that could support growth.Federal Reserve Bank of St. Louis President James Bullard said the central bank may need to ease monetary policy further to offset downside risks from trade conflicts and too-low inflation.Elsewhere, oil fell in Asia on global growth worries and as traders remain uncertain about how quickly Saudi Arabia will be able to restore its lost production. The British pound was the worst performer among Group-of-10 currencies Monday as traders awaited a U.K. Supreme Court ruling on Prime Minister Boris Johnson’s suspension of Parliament.These are some key events coming up this week:San Francisco Fed President Mary Daly delivers remarks in Salem, Oregon.Decisions are due Wednesday from central banks in New Zealand and Thailand. Thursday brings a monetary policy decision in the Philippines.Core PCE -- the Fed’s preferred inflation measure -- is forecast for 1.8%, the strongest reading since January. That’s due Friday.Here are the main moves in markets:StocksFutures on the Nikkei 225 fell 0.5%.Australia’s S&P/ASX 200 Index futures were down 0.1%.Hong Kong’s Hang Seng Index futures rose 0.5%.S&P 500 futures rose 0.4% as of 8:04 a.m. in Tokyo. The S&P 500 Index ended flat.CurrenciesThe yen was steady at 107.54 per dollar.The offshore yuan held at 7.1093 per dollar. Onshore yuan was at 7.1190 per dollar after rising 0.4%.Bloomberg Dollar Spot Index was little changed.The euro traded at $1.0995.The British pound was at $1.2435 after dropping 0.3%.BondsThe yield on 10-year Treasuries was at 1.73%.Australia’s 10-year bond yield fell one basis point to 0.99%.CommoditiesWest Texas Intermediate crude fell 0.5% to $58.35 a barrel.Gold was at $1,521.57 an ounce.\--With assistance from Sarah Ponczek.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Jeremy Herron in New York at jherron8@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-set-mixed-start-214909336.html?.tsrc=rss
(Bloomberg) -- Asian stocks are set for a muted open on Tuesday after U.S. shares ended flat on a mixed day for global economic data. Treasuries were steady.Futures edged lower in Japan and Australia, and rose in Hong Kong. U.S. contracts climbed in early Asia trading after the benchmark was little changed on below average volume Monday. Economic data was largely in line in the U.S. though far short of estimates in Germany and France, sending stocks in Europe down. American money-market interest rates held steady.U.S. data bolstered confidence that recession signals emanating from the bond market are overdone, while gloomy data from the heart of the euro area was a stark reminder to investors of the fragility of the global economy. While markets remain on edge ahead of next month’s planned high-level trade talks between the U.S. and China, they’re also fixated on any action or messaging from the world’s major central banks that could support growth.Federal Reserve Bank of St. Louis President James Bullard said the central bank may need to ease monetary policy further to offset downside risks from trade conflicts and too-low inflation.Elsewhere, oil fell in Asia on global growth worries and as traders remain uncertain about how quickly Saudi Arabia will be able to restore its lost production. The British pound was the worst performer among Group-of-10 currencies Monday as traders awaited a U.K. Supreme Court ruling on Prime Minister Boris Johnson’s suspension of Parliament.These are some key events coming up this week:San Francisco Fed President Mary Daly delivers remarks in Salem, Oregon.Decisions are due Wednesday from central banks in New Zealand and Thailand. Thursday brings a monetary policy decision in the Philippines.Core PCE -- the Fed’s preferred inflation measure -- is forecast for 1.8%, the strongest reading since January. That’s due Friday.Here are the main moves in markets:StocksFutures on the Nikkei 225 fell 0.5%.Australia’s S&P/ASX 200 Index futures were down 0.1%.Hong Kong’s Hang Seng Index futures rose 0.5%.S&P 500 futures rose 0.4% as of 8:04 a.m. in Tokyo. The S&P 500 Index ended flat.CurrenciesThe yen was steady at 107.54 per dollar.The offshore yuan held at 7.1093 per dollar. Onshore yuan was at 7.1190 per dollar after rising 0.4%.Bloomberg Dollar Spot Index was little changed.The euro traded at $1.0995.The British pound was at $1.2435 after dropping 0.3%.BondsThe yield on 10-year Treasuries was at 1.73%.Australia’s 10-year bond yield fell one basis point to 0.99%.CommoditiesWest Texas Intermediate crude fell 0.5% to $58.35 a barrel.Gold was at $1,521.57 an ounce.\--With assistance from Sarah Ponczek.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Jeremy Herron in New York at jherron8@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-set-mixed-start-214909336.html?.tsrc=rss
