Asian markets breathed a sigh of relief on Friday as the incoming head of Japan's central bank soothed fears of an early end to super-easy monetary policy, nudging bond yields lower globally.
Investors were bracing for the release on Friday of the U.S. personal consumption expenditures price index for January, the Federal Reserve's preferred inflation measure. The index is expected to be up 4.3% on a year earlier, compared with 4.4% the previous month.
Overnight, strong data, including an unexpected fall in new claims for unemployment and a revised uptick in the fourth-quarter PCE price index, suggested some strength in the economy. The dollar index , which measures the safe-haven dollar against six peers, was hovering at 104.63, not too far from a seven-week high of 104.78.
Treasury yields slid a little on Friday. The yield on the benchmark 10-year government bonds eased as far as 3.8590%, compared with the previous close of 3.8810%.In the oil market, Brent crude futures rose 0.6% to $82.71 while U.S. West Texas Intermediate crude was up 0.7% at $75.90.Reporting by Stella Qiu; Editing by Bradley Perrett
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