Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while U.S. crude prices took an early spill.
E-Mini futures for the S&P 500 slipped 0.7per cent, having jumped last week on hopes some U.S. states would soon start to re-open their economies. "The Fed will be a major buyer of risky assets in the coming months, and has displayed its willingness to backstop virtually any part of the domestic financial system in trouble," said Oliver Jones, a senior markets economist at Capital Economics.
Bond markets suggested investors expected tough economic times ahead with yields on U.S. 10-year Treasuries steady at 0.65per cent, from 1.91per cent at the start of the year.