Global stocks recovered on Tuesday’s session on the back of higher U.S. equity futures and the drop in both American and European yields, according to Reuters.
- NASDAQ futures gained 1.6% and S&P 500 futures 0.8%.
- Germany’s 10-year government bond yield dropped two basis points to -0.298%, while U.S 10-year Treasury bond yields eased to 1.5472% after recent highs.
- The Euro STOXX 600 rose 0.1% after Germany’s index climbed to a record high on Monday.
- The Shanghai Composite index fell 1.8% amid fears of policy tightening; while Japan’s Nikkei grew 1% as economic recovery prospects pushed gains on consumer goods and property developers.
- Australia’s main S&P/ASX 200 climbed 0.5% despite the drop in tech stocks for the sixth straight session.
- South Korea’s KOSPI slid 0.7% to dip for a fourth straight session, dragged by tech stocks.
- U.S. Treasury Secretary Janet Yellen on Monday said President Joe Biden’s stimulus package would boost economic recovery, and there are tools to deal with inflation.
- Investors are still conflicted if the stimulus will drive a faster rebound or cause the economy to overheat and fuel inflation.