But that is for another day. Relief that an unprecedented and probably catastrophic default will be avoided should still be the overriding emotion for now.
Japan’s benchmark Nikkei 225 index rose 1% on Monday to a new 33-year high, while Chinese stocks were mixed and the MSCI Asia ex-Japan and MSCI World indices essentially closed flat.
At the time of writing, U.S. stock futures pointed to gains on Wall Street of up to 0.5% on Tuesday.
The Asian economic calendar on Tuesday is light, with Japanese unemployment figures the only major release due. The unemployment rate, which jumped to 2.8% in March, the highest in over a year, is expected to ease back to 2.7% in April.
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