SINGAPORE - Asian stocks struggled to extend the week’s rally on Wednesday, and gold and bonds firmed, as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about the global recovery from the pandemic returned.
European futures were subdued with FTSE futures and EuroSTOXX 50 futures down 0.3%. S&P 500 futures rose 0.6%. Two thirds of 223 fund managers surveyed by Bank of America reckon recent gains are a bear-market rally. Oil was steady and benchmark 10-year yields on U.S. Treasuries dipped 1.5 basis points to 0.6948%. Yields fall when prices rise.Doubts about the outlook held back commodity prices from further gains, as more bad news poured forth.
A vax rumor a day keeps bear markets away.
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