Asian stocks set to rebound as US officials plan Treasury buybacks

Asian stocks were set to rebound after Wall Street posted broad gains, as US officials said they planned to increase buybacks of longer-dated Treasuries to ease borrowing costs after yields approached multi-decade highs. A rally in 30-year Treasuries pushed yields down 10 basis points to 5.18% during the New York session, sending the dollar to a three-month low and lifting gold to its highest level since early June. Oil extended a four-day advance, with US futures near $85 a barrel, while Bitcoin jumped as Trump urged Congress to pass a key crypto bill during a White House meeting with industry executives. Gennadiy Goldberg, TD Securities head of US rates strategy, said Federal Reserve rate hikes could flatten the yield curve, though he expects the Fed to try to keep rates steady.

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Asian stocks set to rebound as US officials plan Treasury buybacks - CoinPost Terminal