Volatile trend in global markets

While the positive atmosphere continued in Asian markets, initial signals in US markets pointed to a negative trend. Asian markets followed the 5% growth target announced by the Chinese government and the February Caixin services PMI data, which was announced slightly below expectations at 52.5. In addition, Sharmin Mossavar-Rahmani from Goldman Sachs said that the major declines in the Chinese Stock Exchange were not enough to make one consider investing in the country. While Asian stock markets were mixed with these developments, Chinese stocks rose. The Japanese Nikkei 225 index renewed its closing record on Monday and rose to 40,226 at one point. The Hong Kong Hang Seng Index fell along with the Australian and South Korean stock markets. US stock futures are in the red this morning following a small decline in the S&P 500 on Monday. The US 10-year bond yield did not change much this morning after yesterday's 3 basis point increase. The Bloomberg Dollar Index is flat.