Asian stocks boosted by Fed’s dovish rate-hike stance

Singapore — Asian equities jumped on Thursday, while the dollar slid as investors poured into risky assets after Federal Reserve chair Jerome Powell opened the door to a slowdown in the pace of monetary tightening.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 2% in early Asian trade. The index posted its biggest monthly gain in nearly 30 years in November as hopes for a Fed pivot towards slower rate hikes gathered steam after four consecutive 75-basis-point increases. But the index was still down about 17.5% on the year.

"It looks as if Fed chair Powell didn’t get the memo to push back against pivot hopes and keep financial conditions tight before he went to give his speech," he said.Markets are currently pricing in a 91% probability that the Fed will increase rates by 50 bps on December 14, and see a 9% chance of another 75 bps hike.

US treasury yields fell after Powell’s comments and remained lower Thursday. The yield on 10-year treasury notes was down 8.3 bps at 3.618%, while the yield on the 30-year treasury bonds was 6.8 bps lower at 3.755%.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Worsening power crisis threatens the viability of small business, says Reserve BankSustained load-shedding is cited as one of the stumbling blocks for economic growth and positive investor sentiment South Africa's government is threatening small business, property rights, the right to self and property defense, the right to earn a living, the right to leave your home, etc. South Africa's government is, was and always will be a filthy criminal imposition that leeches off you. Don't worry Top Cop de Ruyter and Chief motivator CyrilRamaphosa will sort out the Eskom_SA. You just have to look past loadshedding the Prez said.
Source: BDliveSA - 🏆 12. / 63 Read more »

Record power outages risk SA's financial stability, Reserve Bank warns | BusinessSouth Africa’s central bank has raised concerns about the threat that an inadequate and unreliable power supply poses to financial stability as the country experiences record blackouts. | News24_Business _Business Noooooo really? VoetsekANC _Business I sure hope it was a very stern concern that they raised as a standard concern would hardly raise an eyebrow. Maybe now everything will get sorted out after more than 10 years of increasing blackouts. Way to go central bank, keep raising your concerns 🤨👍 _Business Its normal , we have ex Apartheid helpers as president and chief of police that are old buddies. Its a gangster state now .
Source: News24 - 🏆 4. / 80 Read more »