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  • S&P 50 Futures rise 0.20% or six points to 2,924.
  • US 10-year Treasury yields dropped 2.4 basis points to 0.687%.
  • Market’s risk-tone remains sluggish amid mixed messages from the US.

S&P 500 Futures recover losses from the 11-week top while taking the bids near 2,924 but the US 10-year Treasury yields refresh weekly low while declining to 0.687% during Wednesday’s Asian session.

Although trade/political tension between the US and China, as well as Australia and China, seem to weigh on the market’s risk-tone off-late, hopes of the coronavirus (COVID-19) cure could have stopped the bears recently.

Also supporting the equities could be expectations of further easing from the Fed, BOE and Europe. While following the footsteps of global leaders, central banks in Asia-Pacific are also suggesting extended easy money policies to combat the pandemic.

On the other hand, the recent comments from the White House Adviser Larry Kudlow that US President Donald Trump is not saying he was tearing up China trade deal seems to keep the traders hopeful.

Even so, the US Republicans push for the testimony by the World Health Organization (WHO) Head and China’s Ambassador to the US and keep inflating the US-China tussle.

It should also be noted that the further calming of negative Fed rate noise and hopes of the economic restart add strength to the risk-positive side.

That said, investors may keep eyes on the trade/virus updates for fresh impulse amid a lack of major data/events ahead of the US FOMC minutes.