News Snapshot:
On Monday, Asian stocks fell and bond yields rose as red-hot inflation revived fears of even more aggressive interest rate hikes in the United States, while new mass COVID-19 testing in China raised fears of more debilitating lockdowns. The Japanese yen fell to a more than two-decade low versus the dollar due to rising expectations of Federal Reserve rate hikes, causing authorities to become more concerned about the severe drops. The MSCI Asia-Pacific equities index fell by 2.66 percent. Focus in Asia was on the risk of fresh COVID-19 lockdowns with Beijing’s most populous district of Chaoyang announcing three rounds...
