Brazil said it will issue sovereign debt denominated in yuan for the first time, joining a small but growing group of countries tapping China’s currency as global currency markets diversify.
Markets got an additional lift after Micron’s earnings topped expectations and oil slid further. Brent crude traded near $72.50, wiping out the wartime premium after renewed traffic through the Strait of Hormuz eased supply fears.
Risk assets rallied: European equities rose about 0.85%, while Japan and mainland China advanced roughly 1.5% despite a 1.4% pullback in Hong Kong. Bitcoin corrected below $60,000, down more than 50% from its peak. US futures pointed to a 1%–2% gain at the open, led by chip stocks buoyed by Micron’s results.