Stocks, bonds gain ahead of US data, Fed comments; yen rallies
Asia-Pacific shares rose 0.5% as investors awaited Friday’s US payrolls report and Federal Reserve comments that could guide rate bets.
- Asia-Pacific shares staged a relief rally on Thursday, with MSCI's broadest index advancing 0.5 per cent as investors awaited fresh US data and central bank signals.
- Traders recently increased bets on a Federal Reserve interest rate hike, assigning a roughly two-in-three chance for a 25-basis-point increase this month, according to CME Group's FedWatch tool.
- Data released Thursday showed Japan's services sector expanded at its fastest pace in five months, adding evidence the economy is robust enough to handle a BOJ rate hike.
- Investors remained on edge over Middle East developments after the US and Iran exchanged their largest barrage of attacks since July, pressuring Oil as US crude fell 0.3 per cent.
- Policy meetings of the European Central Bank and the BOJ will be closely watched alongside Friday's pivotal US payrolls report, as markets gauge how far major central banks will tighten policy.
17 Articles
17 Articles
Stocks, bonds gain ahead of US data, Fed comments; yen rallies
Global stocks and bonds rallied on Thursday, while the yen rose ahead of U.S. data and central banker comments that could reinforce investor expectations the Federal Reserve will raise rates this month.
Weakening Fed interest rate hike prospects support global markets, while non-farm employment data to be released in the US is in focus for investors. Gold is at $4,474, bitcoin is stable at $81,000; Asian and European stock markets are positive.
Rally ahead of US employment data.
Asian stocks rose on Thursday as falling global bond yields and stabilizing oil prices boosted investor sentiment. Europe was also mostly on the mend, with U.S. stocks rising as bond yields fell after markets began to price in a September rate hike. Meanwhile, market participants are also eyeing Friday's U.S. jobs report, which could provide another important signal about the Fed's expected interest rate path.
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
