“We expect the government to provide a pro‑growth policy agenda, with support for both infrastructure and property sectors,” said analysts at Commonwealth Bank of Australia in a note.
Australian shares were up 0.36 percent, helped by gains in miners and financials, while Japan’s Nikkei stock index rose 1.42 percent. U.S. stocks rose on Thursday, reversing earlier losses, as Treasury yields pulled back from earlier highs, following the rates comments from Atlanta Fed President Bostic.
The yield on benchmark 10-year Treasury notes touched 4.0556 percent compared with its U.S. close of 4.073 percent on Thursday. The two-year yield, which rises with traders’ expectations of higher Fed fund rates, rose to 4.8913 percent compared with a U.S. close of 4.904 percent.In currencies, the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was down at 104.86.
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