In Asian Equity Markets stocks eased from record peaks as a stark reminder of supply chain snags in corporate earnings reports stalled their rally, while investors also looked to whether central banks may consider tightening monetary policy earlier than thought. MSCI’s gauge of world stocks, ACWI, fell 0.05 percent in early Thursday trade, with Japan’s Nikkei leading the loss with fall of 1.1 percent. Mainland Chinese shares lost 0.2 percent while MSCI’s broadest index of Asia-Pacific shares outside Japan ticked down 0.1 percent. The broader Topix fell 0.65 percent to 2,000.68.

In Currency Markets the dollar was up on Thursday morning in Asia, with the yen and euro on a downward trend ahead of central bank policy decisions in Japan and Europe. The U.S. Dollar Index inched up 0.02 percent to 93.817. Against the Japanese yen, the dollar was down 0.23 percent to 113.54. The euro inched down 0.1 percent to $1.1591. The Aussie dollar inched down 0.07 percent to 0.7509, with the Australian dollar remaining near its three-month top after the Reserve Bank of Australia declined to purchase a government bond at the heart of its stimulus program.

In US Equity Markets the Nasdaq ended little changed on Wednesday, boosted by gains in Microsoft and Google parent Alphabet on the heels of their quarterly results, but a decline in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower. The Dow fell 0.74 percent, to 35,490.69, the S&P 500 lost 0.51, to 4,551.68 and the Nasdaq Composite was unchanged, to 15,235.84. Microsoft Corp gained 4.21 percent after forecasting a strong end to the calendar year. Alphabet Inc jumped 4.96 percent after reporting a record quarterly profit on a rise in ad sales.

In Commodities Markets oil prices fell on Wednesday after U.S. crude oil stockpiles rose more than expected, even as fuel inventories fell and tanks at the nation’s largest storage hub emptied further. Brent oil futures were down 1.5 percent, to $85.09 a barrel, while the U.S. crude lost 1.3 percent to $83.56 a barrel. Spot gold was up 0.2 percent at $1,796.55 per ounce. U.S. gold futures settled 0.3 percent higher at $1,798.80 per ounce. Elsewhere, silver eased 0.1 percent to $24.10 per ounce. Platinum fell 1.4 percent to $1,013.50 per ounce. Palladium lost 2.6 percent to $1,959.17.

In European Equity Markets stocks fell from near record highs on Wednesday, with miners leading losses after concerns over China hit metal prices, while mixed corporate earnings reports and an upcoming central bank meeting kept investors on edge. The pan-European STOXX 600 closed 0.4 percent lower at 474.04 points. Miners led losses, falling 1.9 percent as Chinese intervention to address skyrocketing commodity prices hit coal and metal rates. British bluechip stocks fell 0.3 percent, while locally-focussed midcap stocks edged higher after the government flagged an improving outlook for the economy.

In Bond Markets the U.S. 2-year Treasury yield rose to a 19-month high on Wednesday, occasioning the sharpest flattening of one yield curve yardstick since the pandemic started amid heightened anticipation of a Federal Reserve interest rate rise next year. U.S. 10-year yields fell to a two-week low of 1.52 percent and were last at 1.5378 percent. U.S. 2-year note yields spiked to 0.5290 percent, the highest since March 2020, and were last at 0.4970 percent. The 5-year yield – another segment of the curve that is also sensitive to interest rate expectations – was last down 4 basis points at 1.1450 percent.