- Treasuries and Asian stocks both rose as traders dismissed policymakers' cautions aimed at limiting expectations of US interest rate decreases.
- Treasury 10-Yr yields fell two basis points to 3.91%, while European equity futures crept higher as contracts for US stocks traded flat. Benchmarks throughout the region climbed following a surge on Wall Street Tuesday, but gauges in China edged lower.
- Fed's Bostic said there was no urgency to lower rates but this did little to dent market expectations. Speculation of Fed easing is making investors the most optimistic since the beginning of 2022, a Bank of America survey on Tuesday. Traders have also been liquidating bets on higher short-term US yields as investors reel back from the urge to fight the dovish pivot.
- Japan's benchmark government bond yield fell to its lowest since the Bank of Japan tweaked yield curve control in late July, while the Nikkei 225 stock index was on track to close at a 33-year high after the central bank kept investors in the dark about when it might change policy.
