Asia-Pacific markets are set to extend gains from Monday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India.
Figures from S&P Global show that Australia's composite purchasing managers index hit a two-year high, coming in at 53.6 against March's 53.3.is also set to rise, with the futures contract in Chicago and Osaka both at 37,740 against the index's last close of 37,438.61.. Investors had been concerned higher oil prices could contribute to inflation, leading the Federal Reserve to hold off on cutting rates.The U.S. flag is displayed at Tesoro's Los Angeles oil refinery.
Joseph Kalish, the fund's chief global macro strategist, said in a note to clients that NDR was reducing its exposure to U.S. bonds in its global fixed income allocation model to a market weight position from an overweight position. "A flight to safety trade last week temporarily helped U.S. bonds outperform. But fundamentals and technicals continue to work against U.S. debt relative to other economies. The U.S. economy remains firm, inflation is sticky, and the Fed keeps pushing back when it will cut rates," the note said.VanEck Gold Miners ETF
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