Traders eye the upcoming inflation report following FOMC minutes revealing economic uncertainty.
Markets cut the odds of a November Fed hike to 9%, down from 13.2% the day before, while a 70% chance suggests rates have peaked.
Hong Kong’s Hang Seng index jumped 1.8%, driven by a 3% surge in banking shares after Central Huijin Investment, China’s state fund, raised stakes in the big four banks. China’s blue chips rose 0.7%. US Fed Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let it “watch and see” if its own policy rate needs to rise again or not.
Markets moved to further trim the chance of a Fed hike in November to just 9%, down from 13.2% a day earlier, and there is a 70% chance that the rate is already at its peak, according to CME FedTool. Alan Ruskin, chief international strategist at Deutsche Bank AG, said an upside surprise in the core rate of 0.4% or more would catch investors off guard, although geopolitical risk is likely to deter the bond market from trading too bearishly on stronger data.
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