In Asian Equity Markets stocks got the week off to a cautious start on Monday, with Chinese markets holding steady, as a spike in coronavirus cases across the region over the weekend hurt investor sentiment while oil hovered around 2-1/2 year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was last a shade weaker at 702.57. Australian stocks fell 0.2 percent. South Korea’s benchmark KOSPI was barely changed as was Japan’s Nikkei. Chinese stocks were a touch higher with the CSI300 index up 0.2 percent.

In Currency Markets the dollar held firm on Monday after slightly softer-than-expected U.S. inflation did little to chip away investors’ conviction that the Federal Reserve could tighten monetary policy if consumer price pressures continue to intensify. The dollar’s index against six other major currencies was steady at 91.793, having recovered from Friday’s low of 91.524 hit in the wake of the inflation readings. The euro was little changed at $1.19385, struggling to recover the $1.20 level while the dollar consolidated at 110.80 yen, not far from Wednesday’s 15-month high of 110.105.

In US Equity Markets the S&P 500 ended the week at record high on Friday, lifted by Nike and several banks, while weaker-than-expected inflation data eased worries about a sudden tapering in stimulus by the Fed. The Dow rose 0.69 percent to end at 34,433.84 points, while the S&P 500 gained 0.33 percent to 4,280.69. The Nasdaq Composite fell 0.06 percent, to 14,360.39. Nike Inc rose 15.5 percent to an all-time high after the sneaker maker forecast fiscal full-year sales ahead of Wall Street estimates. FedEx Corp lost 3.6 percent after the U.S. delivery firm missed 2022 earnings forecast due to hiring difficulties.

In Commodities Markets gold edged higher on Friday after stagnant U.S. consumer spending tempered bets for early monetary policy tightening by the Fed, setting bullion on track for its first weekly gain in four. Spot gold inched 0.1 percent higher to $1,776.96 per ounce. Platinum advanced 1.3 percent to $1,106.50 per ounce, while palladium fell 0.1 percent to $2,637.60. Silver rose 0.3 percent to $26.01. Oil prices rose for a fifth week after climbing to their highest since October 2018. Brent futures rose 0.8 percent, to settle at $76.18 a barrel, while U.S. WTI crude rose 1.0 percent, to $74.05.

In European Equity Markets stocks stayed just below record highs on Friday, with a boost from the financial and materials sectors, while Credit Suisse rose after a report that it was considering a potential merger with UBS. The pan-European STOXX 600 was 0.1 percent, ending the week with gains of 1 percent. The Swiss bank was up 1.9 percent as the report said Credit Suisse’s management was under pressure to come up with an overhaul plan. UBS shares were up 0.2 percent. German stocks rose 0.1 percent as a report showed consumer sentiment improved more than expected heading into July.

In Bond Markets the yield of the benchmark 10-year Treasury rose above 1.50 percent Friday to close out a week in which yields notched their largest weekly gains since March. Benchmark 10-year Treasury yields rose to 1.5377 percent, while shorter-term 2-year Treasury yields edged up to 0.4812 percent. Long duration 30-year Treasury yields rose to 2.1723 percent. The yield curve steepened slightly, with the spread between 5- and 30-year Treasury yields edging up to 123.80 basis points from 118.60 the day before.