- December 30, 2022
- Posted by: Stratford Team
- Category: Economy
(Bloomberg) — Stocks in Asia headed for gains Friday after US shares jumped and Treasury yields and the dollar fell as jobs data eased worries that a hot labor market would lead to tighter monetary policy.
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Australian shares advanced and futures contracts for benchmarks in Japan Singapore and Taiwan rose. The S&P 500 ended Thursday 1.7% higher while the Nasdaq 100 jumped 2.5% to provide both benchmarks with their best day this month.
The 10-year Treasury yield slipped 7 basis points Thursday to halve the gains over the prior two sessions while an index of the dollar fell by the biggest margin in a week.
US jobless claims data fell in line with consensus forecasts, calming investors who were concerned the data would unveil a tighter-than-expected jobs market, and in turn pressure the Federal Reserve to raise interest rates further.
The equity rally offered a ray of light as a dismal year for stocks and bonds draws to a close. Global…
