By Jamie McGeever
March 29 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever.
An interest rate decision in Thailand and Australian inflation top a light Asian calendar on Wednesday, with broader risk appetite likely to be tempered by a further rebound in U.S. bond yields. The two-year Treasury yield rose only a few basis points, but the fact that it increased at all following the previous day’s 21 bps surge is notable, and rate-sensitive tech stocks dragged Wall Street into the red. It is very early days, but there is a growing sense of optimism that the banking shock is abating. Michael Barr, the Fed’s vice chairman for supervision, and FDIC Chairman Martin Gruenberg told lawmakers on Wednesday that depositor funds in U.S. banks are safe and sound.
But this relief is running up what looks like a renewed spike higher in bond yields and borrowing costs, which is…