Asian stocks climb as US markets rally, but Fed drama looms
Asian markets are kicking off the week on a positive note, taking cues from recent US gains.
Aussie shares and Hong Kong futures are up, though Japan's main contracts slid nearly 4% after a yen drop.
Even so, Asian stocks have actually outperformed the S&P 500 this year—despite the US index hitting another record high.
Fed faces pressure, investors eye bond yields
Things are getting tense for the US Federal Reserve.
The Trump administration is ramping up pressure on the Fed, raising questions about its independence.
Fed Chair Jerome Powell even mentioned Justice Department subpoenas—so legal scrutiny could be coming.
Investors worry these moves might push bond yields higher and complicate efforts to keep interest rates down, adding extra uncertainty to global markets right now.