Asian shares, bonds count on Fed
Asian shares pulled ahead on Monday while bonds were in demand globally on mounting speculation the U.S. Federal Reserve will sound decidedly dovish at its policy meeting this week.
- Japan’s Nikkei (N225) up 0.59 percent.
- MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.6 percent.
- Shanghai blue chips (CSI300) climbed 1.6 percent.
- E-Mini futures for the S&P 500 (ESc1) dithered either side of flat.
- The blue-chip CSI 300 eased 0.4 percent.
- Against a basket of currencies, the dollar was pinned at 96.498 (DXY) having shed 0.7 percent last week.
- The decline in Treasury yields has dragged on the dollar, leaving it at 111.53 yen from a top of 111.89 on Friday.
- The euro was holding at $1.1333 (EUR=), well up from the recent trough of $1.1174.
- Sterling was steady at $1.3289 as markets await some clarity on where the Brexit drama was heading.
- Spod gold eased slightly to $1,298.81 per ounce.
- U.S. crude (CLc1) was last down 26 cents at $58.26 a barrel
- Brent crude (LCOc1) futures lost 16 cents to $67.00.