Global Markets Steady Amid Bond Auction Success
Global markets showed signs of stability as Japan's super-long debt auction passed smoothly and Federal Reserve members backed rate cuts. U.S. stocks gained minimal ground, with significant activity influenced by international developments, including Chinese market regulations and India's tax cuts. Commodities saw a slight downturn amid these shifts.
Jittery global markets found some solace as Japan's recent debt auction proceeded smoothly without incident. The auction for 30-year government bonds reached a bid-to-cover ratio of 3.31, averting further instability as demand, albeit the lowest since June, sufficed to quell anxiety for now.
U.S. stock futures held onto modest growth of 0.1%, buoyed by the Federal Reserve's indication of potential upcoming rate cuts. Federal Reserve nominees, including Trump's pick Stephen Miran, emphasized a commitment to maintain the central bank's independence amid upcoming Senate hearings.
Meanwhile, Asia's markets reacted to broad economic moves, such as China's possible new market measures and India's tax cuts, affecting sectors from technology to commodities. While the Indian Sensex rose on government policy boosts, Brent crude and gold witnessed slight declines.
(With inputs from agencies.)
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