London/Hong Kong — Shares edged down, bond yields eased and the dollar crept up towards recent peaks on Tuesday with markets in a cautious mood ahead of Congressional testimony by US Fed chair Jerome Powell and treasury secretary Janet Yellen later in the day.
“The FOMC last week laid out pretty clearly what the Fed's view is with regard to rates ... the next thing that markets will focus on is maybe getting some details from Yellen with regard to further infrastructure investment,” said Alex Wolf head of investment strategy for Asia at JPMorgan Private Bank, referring to a statement from the Federal Open Market Committee.
Adding to market jitters were further worries over the efficacy of the AstraZeneca vaccine developed with Oxford University after a US health agency said the drugmaker may have included outdated information in its data.
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