Asian share markets played second fiddle to bonds on Wednesday as a spectacular fall in the price of oil fanned speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the day.
Talk of a dovish turn helped Wall Street steady and the Dow ended Tuesday up 0.35 percent. The S&P 500 edged up 0.01 percent and the Nasdaq 0.45 percent.
Stocks were left in the dust by bonds as 10-year Treasury yields hit their lowest since August at 2.8190 percent , near a major chart level at 2.80 percent.
The steep drop in Treasury yields undermined one of the U.S. dollar’s major props and pulled Dollar index back to 97.000 , from a recent 97.711 top.
It fell to 112.46 yen , from a 113.70 high last week, while the euro nudged up to $1.1374 from a $1.1266 low.