• Shares in Asia were poised to rise even as US shares signaled overbought levels as the euphoria following the Federal Reserve’s Wednesday meeting began to wane.
• Australian stocks and equity futures for Japan and Hong Kong all climbed. After a surge that put the S&P 500 within a striking distance of its all-time high, the gauge saw a small gain as valuations and “overbought” levels suggest equities are vulnerable to a pullback. The Nasdaq 100 fell after an over 50% surge in 2023.
• Treasuries rose, sending the 10-year yield below 4%. The dollar fell against most of its developed-market peers. The move was partly driven by gains in both the euro and the pound after Europe’s central bankers signaled they are in no hurry to join the US pivot toward interest-rate cuts.