Asian Stocks to Climb as S&P 500 Hits Hot Streak: Markets Wrap

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(Bloomberg) -- Stocks in Asia were primed to advance after US shares hit their hottest winning streak in two years, as investors cling to hopes that interest...

— Stocks in Asia were primed to advance after US shares hit their hottest winning streak in two years, as investors cling to hopes that interest rates have peaked.Xi to Meet US Business Leaders for Dinner in San Francisco

Australian and New Zealand bonds climbed, mirroring Treasury moves. US ten-year yields fell eight basis points to below 4.5% Wednesday after a $40 billion auction — despite mixed metrics, which included a slightly higher-than-anticipated rate of 4.519%, signaling weaker-than-expected demand. The 30-year yield hit the lowest in over a month. Brent oil settled under $80.

Atlanta Fed President Raphael Bostic and his Richmond counterpart Tom Barkin are also slated to speak Thursday, as is Bank of England chief economist Huw Pill.In Asia, Japan will release current account balance data for September and the Bank of Japan will issue October summary of opinions. Investors will be keeping a close eye on October inflation and producer prices data for China. Third-quarter gross domestic product data for the Philippines will also be released.

OTTAWA — Further interest rate hikes from the Bank of Canada are very much still on the table as its governing council remains split on whether rates may need to rise further. The central bank on Wednesday released its summary of deliberations detailing the discussions governing council members had in the lead-up to its Oct. 25 rate decision, which kept its key rate on hold at five per cent.

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Asian Stocks to Climb as S&P 500 Hits Hot Streak: Markets WrapStocks in Asia were primed to advance after US shares hit their hottest winning streak in two years, as investors cling to hopes that interest rates have peaked.
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