Asia shares, bonds find some relief in Fed messaging
The futures market still has 100 basis points of further tightening priced in by year-end, but also implies around 50 basis points of rate cuts over 2023. Just the hint of a less aggressive Fed was enough to send MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.5%. Japan’s Nikkei added 0.7% and South Korea 0.8%.
