Taking their lead apparently from the U.S., Asian markets across the board were up, continuing a bull move that started on Monday with the Nikkei 225 leading the pack, up 2.65%. The index is now up 6.7% in two days, this in anticipation of further stimulus from the Bank of Japan after Prime Minister Abe's election win on Sunday.
Reuters reported: Those gains are being replicated across the region, albeit on a smaller scale.
Like stocks, higher-yielding currencies are all up for the session, mirroring similar moves in commodity markets.
Government bonds yields, despite still remaining near all-time record lows, are also modestly higher.
The world is suddenly good again, just two week's after looking like it was all going to come to an end.
The only question now is what will happen when the expected stimulus splurge arrives, presuming that it will. A lot is being priced in, suggesting that there's scope for disappointment.
Anyway, that's for another day.
- ASX 200 5385.40 , 48.30 , 0.90%
- Nikkei 225 16124.36 , 415.54 , 2.65%
- Shanghai Composite 3010.55 , 15.63 , 0.52%
- Hang Seng 21025.34 , 144.84 , 0.69%
- KOSPI 1988.86 , 0.32 , 0.02%
- Straits Times 2890.66 , 14.52 , 0.50%
- S&P 500 Futures 2131.50 , 1.25 , 0.06%
Currencies
- USD/JPY 102.98 , 0.19 , 0.18%
- USD/CNY 6.6997 , -0.0053 , -0.08%
- AUD/USD 0.7590 , 0.0061 , 0.81%
- NZD/USD 0.7266 , 0.0048 , 0.67%
- AUD/JPY 78.16 , 0.77 , 0.99%
- EUR/USD 1.1086 , 0.0030 , 0.27%
- GBP/USD 1.3085 , 0.0092 , 0.71%
- USD INDEX 96.336 , -0.2350 , -0.24%
- Gold $1,355.20 , $0.35 , 0.03%
- Silver $20.38 , $0.12 , 0.57%
- WTI Futures $44.97 , $0.21 , 0.47%
- Copper Futures ¥37,080 , ¥260 0.71%
- Iron Ore Futures ¥443.50 , ¥16.00 , 3.74%
- Australia 1.958%
- New Zealand 2.320%
- Japan -0.260%
- Germany -0.159%
- UK 0.761%
- US 1.437%
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