Asian Stocks Rise, Bonds Steady Ahead of US Inflation Data

Asian stocks rose Wednesday and bonds stabilized after a sharp selloff, as investors awaited key US inflation data for clues on the Federal Reserve's next moves. The MSCI Asia Pacific Index gained 0.9%, with 10 of its 11 sectors posting gains. Treasury yields steadied after spiking earlier in the week, with the 30-year yield reaching its highest since June 2002 and the 10-year its highest since June 2007. Fed Chair John Williams said the central bank has time to assess data, reducing October rate hike odds to 51.5%. Oil prices added uncertainty, with Brent rising 0.8% to about $103.40 per barrel, while Chinese PMI data showed expansion, supporting regional gains.