In Asian Equity Markets stocks climbed on Tuesday following a rebound in the final hour of New York trading on the view that an expected hefty Fed interest rate hike this week to tackle inflation had been priced into the market. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.2 percent while Australian shares climbed 1.2 percent. In Japan, where trade resumed after a national holiday, the Nikkei advanced 0.48 percent with technology stocks largely driving the climb. China’s blue-chip CSI300 index was 0.2 percent higher while Hong Kong’s Hang Seng index rose 1.2 percent.

In Currency Markets the dollar remained firm near a two-decade high versus major peers on Tuesday as investors braced for another aggressive rate hike by the Federal Reserve as it battles to rein in overheated inflation. The dollar index edged 0.09 percent higher to 109.64. The dollar added 0.07 percent to 143.29 yen. The euro was little changed at $1.00235. Sterling was slightly lower at $1.14245. The Australian dollar fell 0.11 percent to $0.67195. Its Antipodean peer, the New Zealand dollar, fell 0.24 percent to $0.59425.

In US Equity Markets main indexes ended a seesaw session higher on Monday, as investors turned their attention to this week’s policy meeting at the Fed and how aggressively it will hike interest rates. The Dow rose 0.64 percent, to 31,019.68, the S&P 500 gained 0.69 percent, to 3,899.89 and the Nasdaq Composite added 0.76 percent, to 11,535.02. Industrial stocks rebounded 1.4 percent after a sharp decrease on Friday, while banks gained 1.9 percent. Tech heavyweights Apple Inc and Tesla Inc rose 2.5 percent and 1.9 percent, respectively, to provide the biggest boost to the S&P 500 and the Nasdaq.

In Commodities Markets oil prices edged slightly higher in volatile trading on Monday, as worries of tight supplies outweighed fears that global demand could slow due to a strong U.S. dollar and possible large increases to interest rates. Brent crude for November rose 0.7 percent, to $92 a barrel, while U.S. West Texas Intermediate (WTI) for October was up 62 cents to $85.73 per barrel, or 0.7 percent. Spot gold was down 0.3 percent at $1,670.72 an ounce. Elsewhere, silver lost 1.2 percent to $19.32 an ounce, while platinum rose 1 percent to $915.91 and palladium gained 4.1 percent to $2,222.19.

In European Equity Markets stocks ditched almost all session losses in a volatile session on Monday, as investors brace for a week that could see a large interest rate hike by the Federal Reserve and a host of other central bank meetings. The pan-European STOXX 600 index was down 0.09 percent. In a bright spot, Volkswagen edged up 1.1 percent as it saw a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, in what will be Germany’s second-largest initial public offering (IPO) in history.

In Bond Markets benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the prospect that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs. Benchmark 10-year yields reached a high of 3.518 percent, the highest since April 2011, before falling back to 3.487 percent. Two-year yields reached 3.970 percent, the highest since November 2007, and were last 3.944 percent.