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Market Review

US:

The S&P 500 ended higher on Friday as financial shares rose after the benchmark Treasury yield jumped to its highest level in nearly three years.

Asia:

Asian shares and oil prices both slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while the yen extended its stomach-churning descent as the Bank of Japan acted to keep local yields near zero

India:

Indian equity benchmarks ended a choppy session in the red on Friday dragged by IT and consumer shares, extending losses to a third straight session. Gains in oil & gas shares, however, lent some support. Globally, the Fed's hawkish mood, shifts in Chinese economic policy and ongoing ructions in commodity markets due to the Ukraine crisis remained on investors' radar. Market is expected to open on a flattish note and to witness range bound move during the day

Global Economy:

Profit growth at China's industrial firms accelerated in January-February in line with other signs of momentum in the economy, although the outlook clouded by COVID-19 outbreaks and the war in Ukraine is stoking calls for supportive measures.Profits rose 5.0% in from a year earlier, up from a 4.2% gain in December. Contracts to buy U.S. previously owned homes dropped to the lowest level in nearly two years in February, weighed down by a persistent shortage of properties, and activity could remain sluggish amid increasing mortgage rates and high house prices.The National Association of Realtors (NAR) said on Friday its Pending Home Sales Index, based on signed contracts, fell 4.1% last month to 104.9, the lowest level since May 2020. The Bank of Japan on Monday offered to buy unlimited amounts of 10-year Japanese government bonds (JGBs) at 0.25%, stepping into the market to defend its implicit yield cap for the second time this year.

Commodities:

Oil prices plunged about $4 on Monday asconcerns over slower fuel demand in China grew after authorities in Shanghai said they would shut the country's financial hub for a COVID-19 testing blitz over nine days. Gold prices fell on Monday as hopes of progress in RussiaUkraine peace talks to be held this week dented safe-haven demand for bullion, while a stronger U.S. dollar and higher yields further weighed on the metal.

Currency:

The Japanese yen resumed its slide on Monday morning, after the Bank of Japan stepped into the market to defend its implicit yield cap, and bitcoin rose to nearly its highest this year ahead of a week filled with plenty of data to guide markets.

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