2022-04-14 03:41:42
Steady Start
Futures for Japan, Australia and Hong Kong are up following a tech rally that helped Wall Street snap a three-day drop. Bond traders dialed back aggressive bets on Fed hikes, with shorter maturity Treasuries rallying and the yield curve steepening. Some moderation in core U.S. inflation has spurred speculation inflation is peaking. Oil remained above $100 a barrel on renewed concerns about a global supply deficit. Meanwhile, skittish stock traders are bracing for $2 trillion in options expiring soon.
China Cuts
China’s focused on its own economy, and the central bank is expected on Friday to cut its key policy interest rate for the second time this year to help bolster an economy under strain from Covid lockdowns. The People’s Bank of China is also likely to reduce the reserve requirement ratio, the amount of cash that banks must hold in reserve, after the State Council suggested it would do so.
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