Asian Stock Market: Traces S&P 500 Futures to prod two-week high on mixed China, Fed bias, yields dribble

Market sentiment remains cautiously optimistic as traders await more clues to confirm Fed policy pivot, US-China optimism fades.US Treasury bond yields lack momentum after refreshing weekly low.risk appetiteThat said, the market sentiment improved the previous day after downbeat US data fuelled concerns about the Federal Reserve’s nearness to policy pivot. Also previously favoring the risk-on mood were headlines surrounding China.

As a result, the MSCI’s index of Asia-Pacific shares outside Japan and the S&P 500 Futures seesaw around the intraday high while the US Treasury bond yields seesaw at the weekly low. That said, theportrays a corrective bounce while prices of the Gold and the WTI crude oil edge higher. Elsewhere, the previous day’s disappointing US consumer confidence, employment and housing data flagged fears of the Fed’s policy pivot, especially after Fed Chair Jerome Powell highlighted the data-dependency for future moves to defend the hawkish bias.

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