- Most Asian stocks rose after China signalled that looser monetary policy is on the way, and bond traders dialled back aggressive bets on Fed rate hikes.
- An Asia-Pacific equity index rose for the second day in a row, led by gains in Japan and China. US and European equity futures were steady after a tech-sector rally helped Wall Street snap a three-day losing streak.
- China is expected to cut a key policy interest rate for the second time this year on Friday, as well as reduce the reserve requirement ratio soon – the nation's cabinet has strongly signalled the latter as currency lockdowns suffocate the economy.
- Outside of China, monetary policies continue to tighten in an effort to reduce the cost of living. South Korea raised its key interest rate, and Singapore tightened policy even more, causing their currencies to rise.
- shorter maturation Treasuries continued to rise, indicating that investors are reconsidering how far the Fed will raise interest rates. Some moderation in the core US consumer-price measure has fueled speculation that inflation has peaked, though a record producer-price print cautions against making hasty conclusions.
