Singapore — Asian stocks rose on Wednesday, bonds were firm and the dollar nursed losses after data showed US consumer prices barely rose in November, stoking hopes that inflation has peaked and interest-rate increases will slow and eventually stop in 2023.
“I suspect it was a bit of ‘hang on, guys’ — next up is the [Fed] and maybe we want to take some profit and keep our positions trim.” The yield on benchmark 10-year US treasuries fell 11 basis points overnight and was steady at 3.4975% in early Asia trade. Two-year yields, which track short-term interest-rate expectations, fell 17.4 bps.
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