Asian markets highlights sharp divergence in trends today. Nikkei surged to new 34-year high, buoyed by last week's record closes in US and bolstered by expectations that BoJ will maintain its negative interest rate policy in the this week's meeting. Japanese stock market is also riding on the optimism that BoJ is not in a rush to tighten its monetary policy, with the earliest rate hike not expected until April. However, this April decision on rate hikes will still hinge on new economic projections due tomorrow and the results of upcoming spring wage negotiations.
A look at the day ahead in European and global markets from
Kevin Buckland Dovish policy signals from opposite sides of the globe kept
stocks climbing into.
Dovish policy signals keep stocks climbing streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Dovish policy signals from opposite sides of the globe kept stocks climbing into Asian trading on Wednesday, boding well for the European open. Bets for an early rate cut from the Federal Reserve continue to build, with Richmond Fed President Thomas Barkin's remark that "we're making good progress on inflation" taken as more fodder for the peak-rates and soft-landing narratives that have sent the Dow and Nasdaq to all-time highs, and the S&P 500 not far behind. Traders now see a better than 3-in-4 chance for a quarter-point rate reduction by March, according to the CME's FedWatch tool, although Chicago Fed boss Austan Goolsbee could again push back against market pricing when the Wall Street Journal airs a podcast interview later on Wednesday.