Asian stocks were steady Monday and Treasuries held an advance as traders weighed Jerome Powell’s signal that pandemic-era Federal Reserve policy support will be withdrawn cautiously and gradually.
Shares gained in Japan, slipped in Hong Kong and fluctuated in China, where Beijing’s regulatory broadside remains in focus. U.S. futures were steady after a record Wall Street close in the wake of Chair Powell’s Jackson Hole speech. Powell said the Fed may start paring bond purchases this year but is in no hurry to raise interest rates and will be guided by data on Covid-19 risks.
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