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Reports
on Tuesday that China’s ‘National Team’ was on the bid to support
equities helped further stabilise mainland and Hong Kong stock
markets today. The Hang Seng added circa 1.5% while the Shanghai
Composite inched up by 0.2%. Japan’s Nikkei225 gained just shy of
1%.
US
yields did not climb further here, eyes are turning to
Thursday’s US CPI date for the next impetus. Ahead of the data
point are a couple of Federal Reserve speakers Wednesday (see bullets
above).
On
the forex, the US dollar lost some ground during
the session against other majors. Yen, EUR, GBP, AUD, CAD, CHF and
NZD are all up against the
USD. We had comments reported during the session
from San Francisco Fed President Daly who cautioned that the Fed
cannot be too aggressive with its tightening steps but that she does
support a March rate hike.
BTC had a round trip, higher early then a retrace: