SYDNEY : Asian share markets lagged a bounce in U.S. and European futures on Monday, while bonds surrendered some of their recent gains and oil rallied as Saudi Arabia lifted its crude prices.
Early trade was cautious as MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.4per cent. Shares of embattled property developer China Evergrande Group slid 11per cent after saying there was no guarantee it would have enough funds to meet debt repayments. "We think the Fed will view the economy as much closer to full employment than previously thought," said Barclays economist Michael Gapen.
He favours real assets, real estate, commodities, volatility, cash and emerging markets, while bonds, credit and equities could struggle. The rise in short-term rates has helped underpin the U.S. dollar, particularly against growth-leveraged currencies seen as vulnerable to the spread of the Omicron variant.
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