• Asian equities look set for declines Tuesday while bonds rallied in early trading as the collapse of Silicon Valley Bank continued to reverberate across global markets.
• Policy-sensitive two-year government bond yields tumbled around 20 basis points in New Zealand, as did the rate on Australia’s three-year maturity. Shares dropped in these two markets, with financial stocks prominent among the decliners. Futures contracts for benchmark indexes in Japan and Hong Kong were also lower.