SINGAPORE – Stocks in Japan looked like a higher start on Monday as investors continue to monitor the US Treasury yield curve and developments from the war in Ukraine.
The Chicago Nikkei futures contract was at 27,730 while its Osaka counterpart was at 27,690. This compares to the last close of the Nikkei 225 at 27,665.98.
Elsewhere in Australia, the SPI futures contract was at 7,488 versus the last close of the S&P/ASX 200 at 7,493.80.
Markets in mainland China are closed on Mondays and Tuesdays this week for public holidays.
A closely watched chunk of US Treasury yields reversed on Friday as short-term interest rates surged following the release of US jobs data, raising concerns about a possible recession on the horizon.
The benchmark 10-year government bond yield was last seen at 2.3895%, while the 2-year government bond rate was 2.4625%. Yields move inversely with prices, with 1 basis point equaling 0.01%.
The US Dollar Index, which tracks the greenback against a basket of its peers, came in at 98.614 compared to levels below 98 recorded in late March.
The Japanese yen traded at 122.61 per dollar, stronger than levels above 124 recorded against the greenback last week. The Australian dollar was at $0.7487 after trading in a range between $0.747 and $0.753 for most of the last week.
— CNBC’s Patti Domm contributed to this report.
https://www.cnbc.com/2022/04/04/asia-stocks-mainland-china-markets-closed-us-treasury-yields-currencies-oil.html Japanese stocks set for higher start; Markets closed in mainland China