Asian share markets crept ahead on Monday while bonds were in demand globally on...
SYDNEY - Asian share markets crept ahead on Monday while bonds were in demand globally on speculation the U.S. Federal Reserve will sound decidedly dovish at its policy meeting this week.
E-Mini futures for the S&P 500 were just a fraction lower. The S&P 500 boasted its best weekly gain since the end of November last week, while the Nasdaq had its best week so far this year. As a result, yields on three and five-year Treasuries are dead in line with the effective Fed funds rate, while futures imply a better-than-even chance of a rate cut by year end.
Data on Friday showed U.S. manufacturing output fell for a second straight month in February and factory activity in New York state hit nearly a two-year low this month, offering further evidence of a sharp slowdown in economic growth early in the first quarter.
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