Asian shares start cautious, treasuries hold gains
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Asian shares were off to a tepid start at the open Friday and Treasuries held Thursday’s gains in a sign of calming US fiscal fears that rocked markets earlier in the week. A regional stock gauge made a 0.1% gain led by Japanese shares. US equity-index futures fluctuated in early Asian trading after the S&P 500 ended fractionally lower for its third daily decline. Treasuries steadied after rallying across the curve Thursday on moderating US fiscal concerns. The 30-year yield was little changed at 5.04%. An index of the dollar was steady Friday after rising 0.2% in the prior session. Thursday’s rebound in Treasuries came after the bond market sold off recently to reflect worries about surging debt load of the US, with anxiety being amplified after Moody’s Ratings on May 16 downgraded the nation’s top credit rating. Investors are concerned that President Donald Trump’s signature tax bill, which narrowly passed the House, would boost the...