Asian stocks looked set for further declines Monday amid concerns about tightening Federal Reserve policy, while cryptocurrencies nursed a plunge that highlights waning ardor for speculative investments.
Australian shares fell as did futures for Japan and Hong Kong after one of the worst stretches for global shares last week since the pandemic began. Gains in U.S. contracts held out the hope of some respite. The dollar was mixed.
The Fed on Wednesday is expected to signal a March liftoff in interest rates and balance-sheet reduction later this year. Ebbing stimulus is forcing a rethink about the economic and market outlook.
How the policy shift will affect fixed income is among the key questions. Treasuries initially slumped at the start of last week before rallying sharply to leave the 10-year yield just above 1.75%.
In the volatile cryptocurrency sector, bruised Bitcoin stabilized around $36,000 in the wake of a plunge over the past three days. Digital coins have shed more than $1 trillion in value since a November high.
#PhillipCapital #YourPartnerinFinance #Servingyousince1975 #fintech #PITCH #LettheMoneyTalk
