(Bloomberg) — Asian stocks rose after stronger-than-expected US jobs data underscored the health of the world’s largest economy and boosted optimism over a soft landing.
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Australian and Japanese share markets both gained, after the S&P 500 and Treasury yields rose on Friday amid recalibrated bets on the size of the Federal Reserve’s next interest-rate cut. The yield on 10-year Treasuries advanced one basis point Monday.
Trading is being shaped by expectations of US economic resilience, after US employers added the most jobs in six months. Wagers on a no-recession scenario stand to boost the dollar while triggering a drop in haven assets.
“Tailwinds into Asia are probably more significant than anywhere else in the world” with the Goldilocks US economy and fresh Chinese stimulus, said Kyle Rodda, a senior analyst at Capital.com. “This is a very opportune…
