24 February 2026
US Treasuries rose amid stock market weakness and tariff concerns. 10-year yields fell 5bp to 4.03%.
European stocks mostly fell amid renewed global trade uncertainties. The Euro Stoxx 50 edged down 0.3%. The German DAX fell 1.1% and the French CAC lost 0.2%. In the UK, the FTSE 100 closed flat.
European government bonds rose, aided by higher US Treasuries. 10-year German bund yields declined 3bp to 2.71%, as 10-year French bond yields fell 2bp to 3.28%. In the UK, 10-year gilt yields dropped 4bp to 4.31%.
Asian stock markets traded mostly higher on Monday, as investors mulled the latest US tariff developments. Hong Kong’s Hang Seng jumped 2.5%, led by gains in the China Enterprise Index as China is seen as one of the countries now seeing lower tariff rates on exports to the US. Robust Chinese holiday travel and consumption data also supported market sentiment. Elsewhere, Korea’s Kospi and India’s Sensex both rose 0.6%, while ASEAN markets also posted gains. Markets in mainland China and Japan were closed for public holidays.
Crude oil prices edged lower on Monday. WTI crude for April delivery settled 0.1% lower at USD66.3 a barrel.
In Germany, the IFO business confidence index rose to 88.6 in February, from 87.6 in January, above market expectations. Though the climate index improved in all sectors, the trade index remained subdued given ongoing tariff uncertainty.
In the US, Conference Board consumer confidence index should rebound to 87.1 in February after January's sharp fall. Perceptions of labour market conditions will be watched closely.
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