Fed's Pivot Point: Asian Markets Rally as Wall Street Closes Higher

Asian markets are expected to experience a "melt up" following the Federal Reserve's dovish tilt, which lifted Wall Street and caused Treasury yields and the dollar to drop. The Fed's revised economic projections indicate a clearer pivot towards rate cuts next year, with futures markets pricing in a high probability of a quarter-point cut as early as March. Asian investors also have local news to digest, including central bank policy meetings in the Philippines and Taiwan, as well as economic data from India, Australia, and New Zealand. China's markets, however, experienced a decline after investors reacted negatively to proposals and pledges from Chinese leaders to boost the economy.