Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve's corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.
TOKYO - Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve’s corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.
U.S. stock futures, the S&P 500 e-minis, were up 0.98% following a late rally on Wall Street on Monday. Treasury yields rose and the yield curve steepened. However, the Fed’s corporate bond purchases and data showing new infections in Beijing are under control helped equities quickly reverse course and head higher.
Sentiment in Asia got a further boost after health officials said there were 27 new coronavirus cases in Beijing, down from 36 new cases the previous day. The yen was little changed at 107.32 per dollar before a Bank of Japan meeting ending later on Tuesday.
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