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Asian shares' rise broadly cheered by U.S. earnings, rally

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By YURI KAGEYAMA

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Meanwhile, yield on Japanese 10-year government bonds bounced back from a seven-week low to 0.238%, as inflationary pressures returned to focus after traders digested highly anticipated US Fed minutes. With Japan’s headline inflation rate above target for the first time in seven years, the Kishida’s government urged the central bank to keep it at target in a sustainable fashion in its latest long-term policy outline, a change of tone from previous calls for the maintenance of ultra-easy monetary policy in order to achieve the target inflation rate. Meanwhile, BOJ Governor Kuroda assured that the central bank can execute a smooth exit from its easy policy, namely reducing its asset sheet and raising interest rates while ensuring market stability. TradingEconomics.

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U.S. watch.

The personal consumption expenditure price index in the United States climbed 6.6% YoY in March of 2022, from a downwardly revised 6.3% increase in February. This was the steepest rise since the series began in 1959 in goods and services. The Annual Change in the United States decreased to 6.30 percent in April from 6.60 percent in March of 2022.

Personal income in the United States went up 0.4% MoM in April, after a 0.5% increase in March, but below market expectations of a 0.5% gain. Personal income in the U.S. went up 0.9% MoM in April, after a 1.4% increase previously, but up from expectations of a 0.7% gain.

Also, The goods trade deficit in the US narrowed to $105.9 billion in April of 2022 from an upwardly revised record high of $125.9 billion in March.

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