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Fixed Income
Interest rate futures are fully priced for a quarter-point move, and imply a 25% chance of 50 basis points with much depending on what the next payrolls report shows.
Yields on U.S. government debt eased on Monday; the yield on benchmark 10-year notes fell 1.9 basis points to 3.873%, from 3.892% late on Friday.
Equities
Nikkei index .N225 closed 1.77% lower at 37,388.62, snapping a five-day winning run that pushed it up 8.7% last week. Chinese blue chips (.CSI300), opens new tab closed about 0.3% higher.
Forex
dollar fell to a seven-month low and the Japanese yen hit a more than one-week high as traders awaited the Fed’s decision on interest rate cuts. The dollar lapsed 0.64% to 146.64 yen while the euro firmed to $1.108 , up about 0.5% and continuing its August climb.
Commodities
A softer dollar combined with lower bond yields could not hold gold at its zenith and it fell to around $2,505 an ounce , just down from its all-time peak of $2,509.
Oil prices dipped as concerns about Chinese demand continued to weigh on sentiment.
U.S. crude lost 2.9% to $74.42 a barrel and Brent fell to $77.79 per barrel, down 2.37% on the day.
For more news, visit reuters.com
