Asian stocks ended mixed on Tuesday as sentiment was weakened by Covid-19 woes and a surge in U.S. Treasury bond yields.
The U.S. 10-year and 5-year Treasury yields refreshed two-year highs and the 2-year bond coupon jumped to the February 2020 levels at the latest amid bets on the Federal Reserve's faster rate hikes in 2022. Fed funds futures are priced for a hike in March and four hikes this year.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.