It should be noted that Australia’s ASX 200 fails to cheer likely improving relations between Canberra and Beijing, by posting nearly 1.0% daily loss, whereas New Zealand’s NZX 50 also declines 0.95% at the latest amid economic fears.
On a broader front, the reduction in the hawkish Fed bets and easing of the inversion gap of the key US Treasury yield curves, namely between 2-year and 10-year bonds, appears to have previously favored the market sentiment amid Fed policymakers’ attempt to talk down a 100 bps rate hike. The same could be witnessed in mild gains of the S&P 500 Futures.
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