ECONOMY
On Tuesday, Asian indices up as investor awaited U.S. retail sales data and more corporate earnings to gauge the health of the world’s biggest economy, with markets remaining focused on a likely U.S. rate cut by the end of the month.
U.S. data on Tuesday is expected to show that retail sales gained 0.1% in June, according to the median estimate of economists polled by Reuters. But a decline in net interest margin reported by Citigroup in its mixed quarterly report underlined risks for financial firms in a lower interest rate environment.
Wall Street overnight, with the Dow Jones Industrial Average rising 0.1%, the S&P 500 gaining 0.02% and the Nasdaq Composite adding 0.17%.
That decline partly overshadowed better-than-expected profit numbers, triggering a fall in shares of other banks on concerns that it would presage lower profits across the industry.
Markets are fully priced for a 25-basis point cut by the Fed at its meeting at the end of this month.
BONDS
The yield on benchmark 10-year Treasury notes turned down slightly to 2.087% compared with its U.S. close of 2.092% on Monday.
The two-year yield, closely watched as a gauge of traders’ expectations for Fed fund rates, extended its falls to 1.829% compared with a U.S. close of 1.833%.
FOREX
The dollar index, which tracks the greenback against a basket of six major rivals, was largely unchanged at 96.957.
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