- Asian stocks rose on Tuesday, following Wall Street's tech-stock-fueled gains and betting on the Federal Reserve raising interest rates more slowly.
- The dollar dropped as treasuries held recent losses, indicating waning demand for safe-haven assets. Bonds in Australia and New Zealand fell, as did Japan's benchmark 10-yr debt.
- While many other markets in the region were closed for lunar New Year celebrations, Australian stocks gained roughly 0.4% and Japan's Topix index gained up to 1.4%. New Zealand equities increased marginally as investors remained optimistic about the country's future PM Chris Hipkins, who has promised to prioritise the economy.
- The positive tone for risky assets was carried over from the US on Monday, when the tech-heavy Nasdaq 100 had its strongest two-day recovery since November and the S&P 500 extended its gain to 12% from an October low.
- The Australian dollar rose for the third day in a row. A measure of greenback strength fell slightly but remained in the middle of its previous week's range.
