Asian stocks hit fresh records as US data reshapes rate bets 📈
Asian markets climbed to new highs, led by strong gains in Korea’s Kospi and Japan’s benchmarks, with tech stocks driving momentum. MSCI Asia-Pacific is up around 13% in just six weeks — a powerful start to the year.
The catalyst? A hotter-than-expected US jobs report.
Solid labor data cooled expectations for a near-term Fed rate cut. March cut odds dropped sharply, Treasury yields jumped, and the dollar regained some strength. However, traders still see at least two cuts later this year. All eyes now turn to Friday’s US inflation print for the next move.
The yen stood out, strengthening further as markets react to Japan’s election outcome and hopes for fiscal discipline under PM Takaichi.
Commodities update:
• Oil extended gains on US-Iran tensions
• Gold eased after yesterday’s surge
• Yields remain elevated, supporting USD
Big picture: Strong US data + resilient Asian equities = risk sentiment still intact, but inflation data could shift momentum quickly.
Stay sharp. Volatility isn’t done yet.