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HONG KONG (Reuters) -Asia hedge funds weathered the March selloff in markets better than their U.S. counterparts, helped by the relative outperformance of Chinese stocks as global investors rushed into that market. Asia-focused hedge funds posted an average 0.71% loss this month until the 10th, compared with a 2.6% drop for their U.S. peers and a 1.7% drop for global peers, a Morgan Stanley prime brokerage note dated March 12 shows. While the market rout impacted Asia hedge funds, their year-to-date outperformance relative to the United States has expanded, pointing to how the region is becoming somewhat of a haven for investors fearing a U.S. recession.

NEW YORK (Reuters) -Oil prices edged higher on Friday after a more than 1% loss in the previous session, as investors weighed the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets. Brent crude futures were up 36 cents, or 0.52%, to $70.24 a barrel at 11:30 a.m. EDT (1530 GMT), after settling 1.5% lower in the previous session. Russian President Vladimir Putin said on Thursday that Moscow supported a U.S. proposal for a ceasefire in Ukraine in principle, but sought a number of clarifications and conditions that appeared to rule out a quick end to the fighting.

(Bloomberg) -- Just a few months after China’s bond market was plagued by fears of Japanification, soaring yields are pointing to a stark shift in sentiment.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at Risk of ClosureBenchmark yields hit a

The benchmark S&P 500 closed down 10% from its February peak. The whirlwind of tariff announcements in recent weeks have hammered investor confidence.

LONDON (Reuters) -German government bond yields, equities and the euro all rose on Friday on reports Germany's Chancellor-in-waiting Friedrich Merz had reached an agreement with the Greens to reform debt rules and massively increase state borrowing. Merz's conservatives and the Social Democrats, who are in negotiations to form a government after an election last month, had proposed a 500 billion euro fund for infrastructure and sweeping changes to borrowing rules to revive growth and ramp up military spending. To reach the two-thirds majority required for the necessary constitutional changes, though, they need the support of the Greens.

(Bloomberg) -- South Korean investors loaded up on US leveraged exchange-traded funds this week, continuing to plow into a popular trade amid a rout that has plunged the market into a correction.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at

Stocks have plunged in amid fears that tariffs will weigh on economic growth. Yet, there may be a more under-the-radar reason behind the sell-off.