In Asian Equity Markets stocks rose on Wednesday on hopes that the pace of global interest rate hikes will soon start to slow, even as disappointing results from tech giants Alphabet and Microsoft stoked fears of a looming recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.89 percent higher, led by a rebound in Hong Kong and China stocks, while Japan’s Nikkei rose 1.2 percent to climb above 27,500, its highest level since Sept. 20. In China, the mainland benchmark index jumped 1.6 percent, while Hong Kong stocks rose 2 percent.

In Currency Markets the dollar wallowed near a three-week low versus major peers on Wednesday as more signs of economic weakness in the United States fanned speculation about a less hawkish Fed. The dollar reached a 32-year high at 151.94 yen on Friday, but was then beaten back as far as 144.55 amid two bouts of suspected Bank of Japan (BOJ) intervention either side of the weekend. The euro fell 0.13 percent to $0.9957, after jumping to its highest since Oct. 5 on Tuesday at $0.9995. Sterling eased 0.16 percent to $1.1454, but was still close to Tuesday’s high of $1.1500, a level last seen on Sept. 15.

In US Equity Markets stocks rose on Tuesday as soft economic data hinted that the Fed’s aggressive policy is taking effect, while falling benchmark Treasury yields boosted the rally’s momentum. The Dow rose 1.07 percent, to 31,836.74, the S&P 500 gained 1.63 percent, to 3,859.11 and the Nasdaq Composite added 2.25 percent, to 11,199.12. Coca-Cola Co rose 2.4 percent after the company upped its revenue and profit forecasts, banking on steady demand amid price increases. General Motors reaffirmed its outlook after posting solid earnings, sending its shares jumping 3.6 percent.

In Commodities Markets oil prices edged higher on Tuesday, rebounding from an early fall of more than $1 a barrel, on a lift from a weaker dollar and supply concerns highlighted by Saudi Arabia’s energy minister. Brent crude futures rose 26 cents to settle at $93.52 per barrel, while U.S. West Texas Intermediate crude futures rose by 74 cents to $85.32. Spot gold was up 0.4 percent at $1,654.58 per ounce. Spot silver rose 0.4 percent to $19.34 per ounce, platinum shed 0.8 percent to $917.53, while palladium fell 2.1 percent to $1,926.75.

In European Equity Markets stocks rose on Tuesday after a slew of better-than-expected earnings reports helped offset worries about fast-rising interest rates and a slowing euro zone economy. The pan-European stock index rose 1.4 percent, to close at its highest level since Sept 20, with real-estate, technology and financial sectors leading the gains. SAP gained 6.5 percent after the German business software maker reported faster-than-expected revenue growth for the third quarter, while Logitech International jumped 12.5 percent after the computer peripherals maker reaffirmed its full-year forecast.

In Bond Markets treasuries rallied on Tuesday after dismal U.S. data on home prices, consumer confidence and manufacturing fueled market speculation that the Federal Reserve will soon slow its campaign to curb inflation by aggressively raising interest rates. The yield on 10-year notes fell 14.7 basis points to 4.085 percent, and the yield on the 30-year long bonds slid 13.3 basis points to 4.229 percent. The two-year notes’ yield, which reflect inflation expectations, slid to just under 4.40 percent, a decline from a 15-year high of 4.639 percent last week.