Shares climbed for a second session as markets shifted focus to key US data prints this week for further insight into the health of the world’s biggest economy.
A gauge of Asian equities for the region rose Monday, with benchmarks in Hong Kong, Taiwan, Australia and Korea all advancing.
European and US futures were also in the green. Markets in Japan were closed for a holiday. A semblance of calm returned after markets were ravaged early last week from fears the Federal Reserve is waiting too long to cut interest rates.
The Cboe Volatility Index -Wall Street’s fear gauge – has reversed off its highest since the early days of the Covid-19 pandemic. The yen and the Swiss franc – both haven plays – declined on Monday.
“The skies are not fully clear yet, but there are several reasons that suggest to us that some relatively calmer seas are ahead of us,” analysts at Nomura Holdings Inc. said in a note, citing a lessening of fears about a US recession and lower chances of a very hawkish Bank of Japan as among the grounds for optimism.
