Asian markets should open in upbeat mood on Wednesday as lower U.S. bond yields and a weaker dollar reflect expectations that the Fed will cut interest rates as early as September, but the apparent serenity could be shattered in a flash.The most obvious flash point is April's U.S. inflation report after Asia closes on Wednesday - punchier-than-expected figures will force investors to rethink their Fed outlook, lifting the dollar and yields, and weighing on risk appetite.
Investors maintained a 'glass half full' stance though - equities rose, the dollar, yields and volatility drifted lower, and appetite for risky assets picked up. The corporate calendar may generate a bit more trading activity in individual stocks, especially in Japan, where financial giants Mitsubishi UFJ, Mizuho and Sumitomo are all due to report full-year 2024 earnings.
China's commerce ministry said the move will"seriously affect the atmosphere of bilateral cooperation" and Italian Economy Minister Giancarlo Giorgetti said the G7 will discuss the risk of fragmenting global trade next week.
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