Asian stocks fell on Monday and US equity futures erased a climb as tightening monetary policy kept sentiment in check.
The dollar was mixed against key peers. Crude oil added to a near-7% Friday plunge. Treasury futures advanced — there’s no cash trading as Wall Street is closed Monday for a holiday. “Data over the coming months will indeed point to the need for a greater degree of tightening, and market prices will need to adjust,” Sonal Desai, chief investment officer at Franklin Templeton Fixed Income, wrote in a note.
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