(Bloomberg) Stocks in Asia advanced, after US equities registered the best winning streak in two years and strength in Treasuries highlighted expectations for peaking interest rates. The MSCI Asia Pacific Index rose 0.3%, buoyed by increases in Australia, Japan and South Korea. The moves followed S&P 500’s 0.1% gain Wednesday, its eighth consecutive advance and best run since November 2021. Chinese stocks were mixed, with those in Hong Kong down and key mainland benchmarks delivering mild gains, after a fresh price reading showed renewed deflationary pressures. The consumer price index in the world’s No. 2 economy fell in October, the first time since July, underscoring policymakers’ struggle with shoring up growth through domestic demand. The inflation data “will put more pressure on the People’s Bank of China to loosen policy further,” said David Qu, a Bloomberg Intelligence economist. “This reinforces our view that the PBOC will cut its one-year rate by 10 basis poin
(Bloomberg) Stocks edged lower as investors awaited clues on the path of interest rates from a raft of central bank officials including Federal Reserve Chair Jerome Powell. Europe’s Stoxx 600 fell 0.1% and US equity futures traded little changed. The 10-year Treasury yields climbed by three basis points to 4.6%. West Texas Intermediate held at $77, near a three-year low. Marks & Spencer Group Plc soared 10% after profit surged and it reinstated a dividend. Traders are trying to gauge how hard global central bankers will push back against the drop in government bond yields, which potentially hinders efforts to keep a handle on inflation. Up today are US policymakers including Powell and New York Fed President John Williams, as well as Bank of England Governor Andrew Bailey and officials from the European Central Bank. “Fed speakers will attempt to jawbone and cool market expectations for rate cuts,” said Todd Schubert, Dubai-based senior fixed-income strategist at Bank of Singap