Asian stocks poised to follow European gains amid defense spending boost
Sydney - Asian stocks are set to broadly track gains in Europe, where the likelihood of increased military spending has lifted shares in defense companies and bond yields.
Key points:
* European Stoxx 600 index up 0.5%
* 10-year bund yields reach highest in over two weeks
* US officials request European security guarantees for Ukraine
Defense spending and bond yields
Analysts note that the EU is shifting its focus towards increasing defense spending, which could lead to higher bond sales to finance the cost of a lasting peace deal between Ukraine and Russia.
Australia
* Australian dollar holds near two-month high ahead of central bank meeting
* BHP Group reports 23% profit decline amid falling Chinese demand
Events to watch this week:
* Australia rate decision (Tuesday)
* UK jobless claims and unemployment (Tuesday)
* Bank of England Governor Andrew Bailey speech (Tuesday)
* Canada CPI (Tuesday)
* New Zealand rate decision (Wednesday)
* Indonesia rate decision (Wednesday)
* US FOMC minutes, housing starts (Wednesday)
* Japan CPI, Eurozone PMI (Friday)
Market movements:
* S&P 500 futures up 0.2%
* Hang Seng futures up 0.3%
* Nikkei 225 futures flat
* Bitcoin down 0.4% to $96,011.76
* Gold slightly higher
* WTI crude up 0.7% to $71.27 a barrel