Asian markets hit record highs as US jobs data boosts yields and the dollar
Asian stocks reached record peaks on Thursday following strong US jobs data that dampened rate cut hopes. Markets now await Friday inflation reports for direction.
洞察:
Stronger-than-expected United States 
US January jobs data has materially lowered near-term market odds of a Federal Reserve rate cut, driving a rise in the U.S. Treasury market and firming the dollar. This shift in sentiment reshaped asset-price movements across the globe, even as the MSCI Asia-Pacific index climbed to a record high. The unexpected employment print comes immediately ahead of crucial inflation data due on Friday, which is expected to further test market views on interest-rate easing.
US January jobs data has materially lowered near-term market odds of a Federal Reserve rate cut, driving a rise in the U.S. Treasury market and firming the dollar. This shift in sentiment reshaped asset-price movements across the globe, even as the MSCI Asia-Pacific index climbed to a record high. The unexpected employment print comes immediately ahead of crucial inflation data due on Friday, which is expected to further test market views on interest-rate easing.Following the jobs report, the CME FedWatch Tool showed that the probability of a near-term rate cut by the Federal Reserve fell from approximately 20% to about 5%. This change in expectations triggered a significant reaction in fixed income, where the two-year Treasury yield experienced a jump of 5.8 basis points, its largest one-day increase since late October. Strategists at OCBC noted the firming of the dollar as yields rose, while analysts at Capital Economics and Pepperstone monitored the evolving landscape for monetary policy.
