GLOBAL MARKETS-Asian markets set to rise on strong U.S. equities

By Elizabeth Dilts Marshall
NEW YORK, March 15 (Reuters) - Asian stocks were set to open
higher on Tuesday after Wall Street's main indexes closed at
record highs and investors awaited comments from the U.S.
central bank's meeting later this week.
The S&P 500 and Dow Jones Industrial Average both surged on
gains in travel stocks as mass vaccinations in the United States
and congressional approval of a $1.9 trillion aid bill fueled
investor optimism.
Japan's Nikkei 225 futures NKc1 added 0.10%.
Hong Kong's Hang Seng index futures .HSI HSIc1 rose
0.55%.
E-mini futures for the S&P 500 EScv1 fell 0.16%.
Australia's S&P/ASX 200 index .AXJO rose 0.24% in early
trading.
MSCI's gauge of stocks across the globe .MIWD00000PUS
gained 0.04%.
Investors are focused on the U.S. Federal Reserve's two-day
policy meeting, which will conclude on Wednesday, as rising bond
yields fuel concerns for a pickup in inflation. Fed policymakers
are expected to forecast that the U.S. economy will grow in 2021
by the fastest rate in decades. Minutes from Australia's central bank's March monetary
policy meeting are due out at midday and are expected to provide
commentary on bond yields and an update on it 3-year bond yield
target.
The Bank of England also meets this week on Thursday.
"Markets are likely to be in a holding pattern ahead of this
... heavy central bank-laden week," write analysts at TD
Securities.
On Wall Street, the Dow Jones Industrial Average .DJI rose
174.82 points, or 0.53%, to 32,953.46, the S&P 500 .SPX gained
25.6 points, or 0.65%, to 3,968.94 and the Nasdaq Composite
.IXIC added 139.84 points, or 1.05%, to 13,459.71.
Airline shares .SPCOMAIR rose as the companies pointed to
concrete signs of an industry recovery as a slowing COVID-19
pandemic helps leisure bookings. Germany, France and Italy hit pause on AstraZeneca (NASDAQ:AZN) AZN.L
COVID-19 shots after several countries reported possible serious
side-effects.
The development will be watched in Australia, where the
vaccine is also administered.
The pan-European STOXX 600 index .STOXX was flat on
Monday, after touching its highest level since February 2020.
Longer-term U.S. Treasury yields fell Monday as the market
looked ahead to the Fed meeting and the latest government debt
auctions. The benchmark 10-year yield US10YT=RR , which reached
1.642% last week, ended Monday down 2.8 basis points at 1.6073%.
Rising inflation expectations could prompt the Federal Open
Market Committee to signal it will start raising rates sooner
than expected.
In currencies trading, the dollar gained as traders cut
bearish bets on the greenback to four-month lows. The dollar index =USD rose 0.154%, with the euro EUR=
down 0.03% to $1.1924.
The Australian dollar fell 0.08% versus the greenback at
$0.775.
U.S. West Texas Intermediate crude CLc1 for April settled
at $65.39 a barrel, down 22 cents. Brent crude futures LCOc1
for May settled at $68.88 a barrel, losing 34 cents.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
World FX rates YTD http://tmsnrt.rs/2egbfVh
Global asset performance http://tmsnrt.rs/2yaDPgn
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>