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Asia shares, bonds count on Fed to be accommodative

Updated : March 18, 2019 01:39 PM IST

Japan's Nikkei advanced 0.59 percent, and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent. Shanghai blue chips climbed 1.6 percent and spread betters pointed to modest opening gains for the major European bourses.
There is much talk Fed policymakers will lower their interest rate forecasts, or "dot plots", to show little or no further tightening this year. Also expected is more detail on a plan to stop cutting the Fed's holdings of nearly $3.8 trillion in bonds. The two-day meeting ends with a news conference on Wednesday.
A marked decline in Treasury yields has dragged on the dollar, leaving it at 111.53 yen from a top of 111.89 on Friday. Against a basket of currencies, the dollar was pinned at 96.498 having shed 0.7 percent last week.
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