Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, while bonds and the dollar braced for more updates on U.S. monetary policy. | Reuters
S&P 500 futures were down 0.2 percent, while Nasdaq futures slipped 0.1 percent in quiet trade.
Atlanta Federal Reserve President Raphael Bostic on Saturday said he was ready to step down to a half-point hike in December but also underlined that rates would likely stay high for longer than markets expected. “But for central banks to pause they also need clear evidence that labor markets are easing,” he added. “The latest reports in the U.S., euro area, and U.K. point to only a limited moderation in labor demand, while news on wages points to sustained pressures.”There are at least four Fed officials scheduled to speak this week, a teaser ahead of a speech by Chair Jerome Powell on Nov. 30 that will define the outlook for rates at the December policy meeting.
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