U.S. treasury yields slipped Tuesday amid speculation about the leadership of the Federal Reserve and rally of global equities muted.
Earlier news broke out Federal Governor Lael Brainard was interviewed for the Federal Reserve’s top job. Some commentators think Lael is more dovish. The 30-year treasury inflation protected securities (TIPS) slipped record low reflecting concerns on inflationary risks globally.
U.S. equity futures are muted with Dow Jones down by 0.07% and S&P 500 0.02%.
MSCI Asia Pacific Index was little changed. Stocks in Asia closed mixed with CSI 300 down by 0.03%, Hang Seng inching up by 0.20%, KOSPI up by 0.08%, Nikkei down by 0.75% and SET up by 0.31%.
The dollar index drifted down by 0.13% trading at 93.93 on warry of U.S. inflation data and federal reserves outlook on interest rate.
Important events that are to shape the movement of the global equites this week are tonight’s announcement of the U.S. inflation data, China’s PPI numbers on Wednesday and outcome Chinese central committee’s meeting on Thursday which would include crucial detail about President Xi’s presidency in the third term
