Asian stocks fell on Tuesday after a rally in US shares evaporated as Federal Reserve officials signalled the central bank will likely need to raise interest rates above 5% before pausing and holding for some time.
, which will come out almost a week after the latest jobs data showed that wage growth has decelerated. The figures will be among the last such readings policy makers will see before their gathering on 31 January.
The Bloomberg Dollar Spot Index was little changed, while the greenback was mixed against its G10 counterparts on Tuesday. Treasury 10-year yields held at 3.54%. Japan’s 10-year yield was at 0.5%, the ceiling for the Bank of Japan’s yield control policy. . The world’s second-largest economy made an abrupt U-turn on strict Covid restrictions in early December and swiftly followed up with other market-friendly changes.
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