Asia shares bounce as stimulus hopes stem rout, for now [Reuters (UK)]
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Source: Reuters
Asia shares bounce as stimulus hopes stem rout, for now - Reuters 5 Min Read SYDNEY (Reuters) - Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling. Yields on benchmark U.S. 10-year Treasury debt more than doubled to 0.70% and oil prices rallied over 7%, offering hope that markets had found a floor, even just fleetingly. “Talk of coordinated fiscal and monetary support is getting louder,” said Rodrigo Catril, a senior FX strategist at National Australia Bank, noting U.S. President Donald Trump was promising “major” steps to support the economy. Trump plans a news conference later on Tuesday to lay out proposed measures and dealers reported rumours Treasury Secretary Steve Mnuchin was pushing for radical action. Investors seemed to take heart with E-Mini futures for the S&P 500 ESc1 rallying 2.5% after an early slide. EUROSTOXX 50 futures STXEc1 also rose 1.7%. MSCI
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