neck-and-neck US elections.
“Asian markets are bracing for a fragile Friday, with high and climbing bond yields chomping at the heels of risk assets, rising AI costs, and gloomy forward outlooks pumping the brakes on the mega-cap Big Tech rally,” said Stephen Innes, managing partner of SPI Asset Management. Just days away from the US election on Tuesday, data showed the Fed’s preferred inflation measure cooled further in September — and now sits just above the central bank’s long-term target of two percent.The Fed is expected to authorize a second cut at the end of its policy meeting next week, following a cut in September.
“A victory for Trump woud likely hurt the outlook for Asian economies and FX via lower trade and investment, as well as the Fed potentially slowing the pace of rate cuts due to the inflationary consequences of Trump’s proposed economic policies .”US nonfarm payroll figures to be released later Friday are expected to show 100,000 jobs added last month, Bloomberg reported.