(Bloomberg) — Asian equities tracked gains on Wall Street as the latest US inflation data reinforced bets for Federal Reserve interest-rate cuts.
Most Read from Bloomberg
Shares in Australia, Japan and South Korea climbed. Futures contracts for the S&P 500 and Nasdaq 100 also rose early Thursday after the two benchmarks gained more than 1% to touch fresh highs on Wednesday. Hong Kong shares will resume trading on Thursday after a holiday.
Australian and New Zealand government bonds rallied. Treasuries were steady after gains in the prior session that pushed yields lower across the curve. The US 10-year rate fell 10 basis points, while the policy-sensitive two-year yield dropped nine basis points as investors brought forward interest rate cut expectations. Swaps market pricing had priced in one cut this year, but that jumped to two following the inflation print on Wednesday.
The Bloomberg dollar index fell to a one-month low as the…
