Asia Stocks, U.S. Futures Dip; Treasuries Steady: Markets Wrap

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(Bloomberg) — Asian stocks opened lower after the reflation trade fizzled in the U.S. amid new travel curbs in some parts of the world. Treasuries and the dollar were steady after gains.

Japan underperformed, while Australia and South Korea had more modest declines. U.S. futures dipped after technology stocks led U.S. benchmarks to fresh records Monday as the likes of Apple Inc., Amazon.com Inc. and Zoom Video Communications Inc. climbed. But cruise operators and airlines sank as governments from Europe to Asia imposed new limits on travel from Britain — which is seeing a spike in coronavirus cases. The S&P 500 eked out a gain on news that Facebook Inc. won dismissal of two monopoly lawsuits.

The Treasury yield curve flattened amid month-end index rebalancing and the break in auctions until July 12, reducing supply. Oil held a drop with the market expecting OPEC+ producers to increase supply at an upcoming meeting. Bitcoin was steady around…

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