Asian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data.
"It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note. On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares.
At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402 per cent compared with a U.S. close of 4.261 per cent.
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