* Asian stock markets : tmsnrt.rs/2zpUAr4 * S&P 500 futures bounce in Asia, Nikkei futures jump * Investors relieved as Fed pledge eases bond market stress * Treasury yields fall, drag down yields globally * Dollar off its peaks, supported by liquidity flows By Wayne Cole SYDNEY, March 24 (Reuters) – Asian stocks were set to rally on Tuesday as the U.S. Federal Reserve’s sweeping pledge to spend whatever it took to stabilise the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus. While Wall Street still finished lower, investors in Asia were encouraged enough to lift E-Mini futures for the S&P 500 by 2%. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.5% in early trade, while Nikkei futures traded at 18,115 compared to a cash close of 16,887. In its latest drastic step, the Fed offered to buy unlimited amounts of assets to steady markets and expanded its mandate to corporate and muni bonds. The numbers were certainly large, with analysts estimating the package could make $4 trillion or more in loans to non-financial firms. “This open-ended and massively stepped-up programme of QE is a very clear… Read full this story
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