In Asian Equity Markets stocks were subdued on Monday and the dollar held firm after a stunning U.S. payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, after three sessions of gains. Japan’s Nikkei edged up 0.3 percent and South Korea’s KOSPI went flat. Chinese blue chips eased 0.2 percent. The Hang Seng index fell 0.8 percent to 20,050.15 points. The Hong Kong China Enterprises Index lost 1.1 percent to 6,826.77.

In Currency Markets, most Asian currencies fell on Monday after mixed Chinese trade data raised concerns over demand in the country, while the dollar strengthened on expectations that the Federal Reserve will hike rates at a sharp clip next month. The Chinese yuan was largely muted at 6.7620, as investors weighed robust exports against a smaller-than-expected rise in Chinese imports. Elsewhere, the Japanese yen fell 0.3 percent against the greenback to 135.34, and was the worst performer among its peers in Asia. The Australian dollar rose 0.3 percent to 0.69 to the dollar.

In US Equity Markets the S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation. The S&P 500 declined 0.16 percent to end the session at 4,145.19 points. The Nasdaq declined 0.50 percent to 12,657.56 points, while the Dow rose 0.23 percent to 32,803.47 points. Lyft Inc rose almost 17 percent after the ride-hailing firm forecast an adjusted operating profit of $1 billion for 2024 after posting record quarterly earnings.

In Commodities Markets oil prices settled higher on Friday, recouping some of this week’s losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude settled up 80 cents to $94.92 a barrel, 11 percent off last Friday’s settlement. U.S. WTI crude settled up 47 cents to $89.01, off 8 percent in the week. Spot gold fell 0.9 percent to $1,775.09 per ounce. Spot silver fell 1.4 percent to $19.87 per ounce. Platinum rose 0.2 percent to $927.98. Palladium rose nearly 3 percent to $2,125.95.

In European Equity Markets stocks fell on Friday after a stronger-than-expected U.S. jobs report ramped up bets of another 75 basis point rate hike by the Federal Reserve next month, while fears of a darkening growth outlook pushed shares towards weekly losses. The pan-European STOXX 600 was down 0.8 percent. Deutsche Post was up 4.6 percent after posting double-digit growth in revenue and earnings. Ground staff of Germany’s Lufthansa and management reached a pay deal after negotiations, averting further walkouts during the busy summer travel season. Shares of the carrier rose 4.0 percent.

In Bond Markets U.S. Treasury yields rose sharply on Friday after data showed the world’s largest economy created far more jobs than expected in July, bolstering expectations the Federal Reserve will continue to raise interest rates in the next few meetings to slow inflation. In afternoon trading, the yield on 10-year Treasury notes was up 15 bps at 2.8287 percent. U.S. 30-year bond yields rose nearly 10 bps to 3.0605 percent. At the short end of the curve, the U.S. two-year yield, which typically tracks interest rate expectations, hit a two-week high of 3.25 percent and was last up 20.7 bps at 3.2442 percent.