Asian Bonds Track US Rally; India Stock Futures Up: Markets Wrap

Bonds tracked Treasuries higher in Asia trading on signs of a cooling US labor market that buoyed Federal Reserve rate-cut bets. Stocks struggled for direction.

Australian and Japanese notes rose after US data showed job openings hit the lowest since 2021. That lifted Treasuries on Tuesday — sending the 10-year yield down six basis points — and reinforced speculation that the Fed will be able to lower rates this year. Treasury yields were little changed Wednesday.

Stocks were mixed in the region, with Japanese equities sliding more than 1%. Benchmarks jumped in Hong Kong and South Korea, supported by rates-sensitive ...