On Tuesday, European stocks rose after Asian ones, while government bonds came under pressure as traders returned to riskier assets after the worst series of weekly global stock losses since 2008.

The Stoxx Europe 600 regional index added 0.7 percent after the close of the previous session, while the London FTSE 100 continued to rise on Monday and rose 0.2 percent on early deals.

The move came at a time when Hong Kong’s Hang Seng was up 2.9 percent and the technology-oriented sub-index was up more than 5 percent when executives of major Chinese technology companies met with regulators to discuss the state of the country’s digital economy.

The dollar index, a measure of the currency compared to six others, fell 0.2 percent. Currency markets are “calming down a bit after a stormy month,” ING analysts said after a period of falling global stocks and The US currency has reached multi-year highs. “We seem to be entering a period of consolidation,” ING said.

They added that economic unrest is focused on China, where the blockades have raised concerns about global growth prospects.

Beijing’s blockade strategy seems unlikely to change any time soon, “ING said,” but there is some very short-term optimism that Shanghai residents and workers could be released in three days without a new Covid case. “

Futures tracking S&P 500 on Wall Street added 0.5% during early European trading after the index closed impulsive session decreased by 0.4 percent. Contracts tracking the Nasdaq 100 technology added 0.7 percent after falling 1.2 percent for the broader Nasdaq Composite index amid the weakness of major technology and consumer stocks including Amazon and Tesla.

As stock markets grew, eurozone debt suffered from a a wave of sales is recovering on Tuesday, sending yields is higher. The yield on the 10-year-old German Bund, which is seen as the operator of borrowing costs across the bloc, rose 0.08 percentage points to 1.01 percent. The reference debt instrument started 2022 in negative territory. The yield on Italy’s equivalent government bonds rose 0.08 percentage points to 2.92 percent.

U.S. debt also came under pressure: 10-year Treasury bond yields rose 0.04 percentage points to 2.92 percent, while two-year policy yields rose 0.05 percentage points to 2.62 percent.

Federal Reserve System raised interest rates by 0.5 percentage points this month, and the next three meetings of the central bank are expected to grow to a similar size, as it will aggressively curb stubbornly high inflation.

Refusal to stimulate the Fed has reduced the attractiveness of US sovereign bonds, while expectations of rising borrowing have weakened hit high-rise speculative stocks whose estimates were met by ultra-low interest rates during the coronavirus pandemic.

As for commodities, Brent crude fell 0.1 percent to just over $ 114 a barrel. The international oil benchmark remains 4% higher than the month and almost 50% higher than the year as traders assess the prospect of a global economic downturn that will hit demand with concerns about supplies following Russia’s invasion of Ukraine.