Asian Stocks to Gain, Treasuries Rally Into US PCE: Markets Wrap

-- Equities in Asia are set to rise after gains on Wall Street, while Treasuries rallied ahead of the Federal Reserve’s preferred inflation gauge due Friday.China’s Finance Elite Face $400,000 Pay Cap, Bonus Clawbacks

The US government marked down personal spending to an annualized 1.5% in the first quarter. Separate releases showed declines in orders and shipments of certain business equipment, weakness in the job market and a slide in homebuying. Economists expect data Friday to show that the Fed’s preferred gauge of underlying inflation slowed to an annualized rate 2.6% last month from 2.8%. While that’s the lowest reading since March 2021, it remains above the Fed’s goal for 2% inflation.

In commodities, oil was set to advance for a third session on Friday while gold held onto Thursday’s gains.Fed’s Thomas Barkin speaks, FridayThe Japanese yen was little changed at 160.

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