Asian markets stage a rebound following more declines from U.S. markets overnight. Treasury yields also climb with the 2-year bill hitting its highest level since 2007 following Federal Reserve Chairman Jerome Powell’s Jackson Hole comments last week. ECB chief economist Philip Lane has said he backs incremental rate hikes, warning that bigger increases could have adverse effects on the bloc. The EU has set out emergency measures to decouple electricity and gas in a bid to rein in ‘skyrocketing’ energy costs. In China, tech firms continue their slump, logging their worst earnings quarter ever. There is one outlier – e-retailer Pinduoduo – which posts better=than-expected Q2 numbers.  

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