In Asian Equity Markets stocks edged higher on Tuesday despite data reinforcing investor fears the global economic recovery may be more fragile than expected, even as inflationary pressures remain high. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.84 percent on Tuesday. U.S. stocks ended the previous session with mild losses. In Tokyo, the Nikkei was flat in early trade, while in Australia the S&P/ASX200 index gained 0.34 percent. Hong Kong’s Hang Seng Index was 1.2 percent higher and mainland China’s CSI300 Index gained 0.07 percent.

In Currency Markets the dollar fought for a footing on Tuesday and the tumbling Chinese yuan found a floor as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains. The euro rose about 0.1 percent on the dollar to $1.0446 and the Australian and New Zealand dollars lifted about 0.1 percent and are off multi-year lows. China’s yuan was steady at 6.7953 per dollar in offshore trade, and seems to be finding a base after sliding more than 6 percent in a month. Sterling has bounced about 1.5 percent from a two-year hold and was steady at $1.2328 on Tuesday.

In US Equity Markets the S&P 500 ended lower on Monday, with Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates. The S&P 500 declined 0.39 percent to end the session at 4,008.01 points. The Nasdaq declined 1.20 percent to 11,662.79 points, while Dow rose 0.08 percent to 32,223.42 points. The S&P 500 healthcare sector index rose 0.7 percent, lifted by a 2.7 percent jump in Eli Lilly & Co after the drugmaker won U.S. approval for tirzepatide, to treat adults with type 2 diabetes.

In Commodities Markets oil prices rose on Monday on optimism that China would see significant demand recovery after positive signs that the country’s coronavirus pandemic was receding in the hardest-hit areas. Brent crude futures for July delivery rose $2.69 to settle at $114.24 a barrel, a 2.4 percent gain, while U.S. WTI crude rose 3.4 percent, to $114.20 a barrel. Spot gold rose 0.3 percent to $1,817.12 per ounce. Spot silver gained 2.2 percent to $21.53 per ounce. Platinum rose 0.2 percent to $940.28, while palladium rose 3.9 percent to $2,019.70.

In European Equity Markets stocks closed flat on Monday as gains in miners limited earlier declines, while French and German stocks fell the most following alarmingly weak economic data from China which fanned global recession fears. The pan-European STOXX 600 index closed flat, after posting its first weekly gain in five on Friday. Germany’s benchmark index fell 0.4 percent and French stocks fell 0.2 percent, paring some early losses, while Wall Street also opened lower. Vodafone rose 1.9 percent, after UAE-based telecoms company bought a 9.8 percent stake in the company.

In Bond Markets U.S. Treasury yields eased on Monday, as mounting global growth concerns deepened after unexpectedly weak economic data from China and a steep decrease in New York state’s factory activity. In afternoon trading, the yield on 10-year Treasuries slid 5.1 basis points to 2.882 percent, while the 30-year bond yield was little changed at 3.091 percent. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) fell to 3.045 percent from 3.076 percent late on Friday. U.S 10-year breakeven rates slid to 2.748 percent, from 2.784 percent on Friday.