Many markets across Asia were feeling the pressure of the new policies regarding Delta Variant. Asian markets fell slightly reacting to many areas reinstating their previous stances on lockdowns and the like.
The Yen was one of the major currencies being looked to as a safe-haven. Tech all across China was hit by Beijing’s cybersecurity investigation of ride-hailing company Didi Global Inc. China’s new promise to further restrict overseas purchasing and regulations damaged attitudes. U.S. contracts turned after S&P 500 fell slightly while the Nasdaq 100 hit a new record.
10 year U.S. Treasury growth saw lows not seen since the beginning of 2021, overnight. This was because of slower service-sector inclines. Australian and New Zealand bonds saw their own rally today as well. Also, crude oil stabilized after falling briefly toward $73 a barrel. Globally, shares are still at or near record heights. Inflationary worries, scaled-back central bank stimulus, and the spread of the new Delta Strain of COVID pose many risks. Traders are examining share trends ahead of the Federal Reserve talks Wednesday. These watchdogs are looking for any evidence that the Fed will be reducing its inflation policies.
“Recent weeks have seen the global recovery motor along as expected, supported by the vaccine rollouts and a further easing of restrictions,” This came from a report given by David Folkerts-Landau, a Deutsche Bank AG Chief Economist. He continued to say “The balance of risks is slightly more negative given the continued global reach of the delta variant and the reaction to the FOMC.”
MetaNews is continuing to keep up and report on the unfolding Fed policy issues and how it impacts the markets and investors around the globe. Inflation is still bearing down on many investors. There doesn’t seem to be any indication that this will stop until sometime in 2023. Many markets across Asia were feeling the pressure.