Morning Bid: Growth fears mount, 'bad news is bad news'?
Asian markets could be in for a choppy ride on Tuesday, with investors unsure whether to interpret Monday's steep fall in U.S. Treasury yields and the dollar as an encouraging sign for risky assets or a warning that growth is evaporating.
By some measures, a shift in the U.S. economic outlook is already underway. The Atlanta Fed on Monday slashed its GDPNow model forecast for second quarter growth to 1.8% from 2.7%. Two weeks ago it was 3.5%, and three weeks ago it was over 4.00%. That's the backdrop to Asian markets on Tuesday which also sees the release of manufacturing PMI data from Malaysia and Thailand, South Korean inflation, and the official results from India's general election.
India's boom helped drive the continent's stocks higher. The MSCI Asia Pacific ex-Japan index snapped a four-day losing streak, surging more than 2% for its best day since November.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gasoline demand growth to slow this year on EV growth in China, U.S.Gasoline demand growth to slow this year on EV growth in China, U.S.
Read more »
Morning Bid: Wall St eyes election-strewn June, jobs weekMorning Bid: Wall St eyes election-strewn June, jobs week
Read more »
Morning Bid: PMI-fest kicks off new month, spotlight on ChinaMorning Bid: PMI-fest kicks off new month, spotlight on China
Read more »
Morning Bid: Inflation expectationsMorning Bid: Inflation expectations
Read more »
Morning Bid: Checking pulse of China profits, eyeing yen actionMorning Bid: Checking pulse of China profits, eyeing yen action
Read more »
Morning Bid: Rates frustration spoils markets' Friday moodMorning Bid: Rates frustration spoils markets' Friday mood
Read more »