Asian stocks and U.S. equity futures climbed on Monday after President Donald Trump suspended his plans for U.S. tariffs on Mexico. Treasuries fell as demand for havens sank.
Asian Stocks
- The MSCI Asia Pacific Index rose 0.9% as of 2:00 p.m. in Tokyo.
- Japan’s Topix Index rose 1.6%.
- Shanghai Composite gained 1%.
- Hang Seng gained 2.1%.
- Kospi rose 1.2%.
- S&P 500 futures rose 0.3%. The S&P 500 rose 1.1% Friday.
Currencies
“The yuan would weaken further should there be no summit meetings between the two countries at an upcoming G20 meeting in Osaka,” Nomura’s Kaku said.
- The yen fell 0.4% to 108.66 per dollar.
- The euro fell 0.2% to $1.1307.
- The offshore yuan was at 6.9525 per dollar, down 0.1%.
- Mexico’s peso jumped 2.2% to 19.20 per dollar.
- The Bloomberg Dollar Spot Index was little changed after dropping 0.3% Friday.
Bonds
- The yield on 10-year Treasuries rose about four basis points, to 2.12%.
- Japan’s 10-year yield fell less than one basis point to minus 0.125%.
Commodities
Oil prices extended gains after Saudi Arabia said on Friday OPEC and non-member Russia were close to agreeing to extend an output production cut beyond June and as Wall Street rallied.
- Brent futures rose 0.25% to $63.45 per barrel.
- U.S. crude futures gained 0.57% to $54.30.
- Gold fell 0.9% to $1,328.58 an ounce.
