Equites climbed on Tuesday ahead of cease-fire talks between Russian and Ukraine, signaling positive sentiment to the market.
Equites in the mainland China close marginally lower while equities in Hong Kong, South Korea, Japan and Thailand closed marginally higher on Tuesday. The MSCI Broad Market Index ex Japan jumped by 0.03%.
U.S. equity future climbed after benchmark indexes rose for the third session on Monday.
U.S. treasury yield rose as investors bets against tightening monetary policy globally. The uncertainty surrounding monetary tightening is hurting short term maturity treasury bills. Inversion along the curve where short-term rates exceeded long term rates pointing towards a economic downturn.
“It makes sense to think about those growth risks, but more from a slowdown perspective and not a recession perspective for this year,” Julia Wang, JPMorgan Private Bank global market strategist, said on Bloomberg Television.
Russia-Ukraine are set to start negotiation talks in Turkey on Tuesday, with Ukraine’s minimum agenda is to establish cease-fire agreement.
Crude oil fluctuated as demand outlook dampened amid fresh outbreak of COVID-19 in China, leading to movement curbs and lockdowns in Shanghai. The WTI is trading around $106 a barrel while Brent is trading around $113 a barrel.