Investors in Asia are cheering the FBI's decision to clear Hillary Clinton, again

Photo by Pablo Blazquez Dominguez/Getty Images

It’s Monday in Asia and risk assets are ripping higher.

US presidential nominee Hillary Clinton has been cleared by the FBI, again, over the use of her private email server, and markets are loving it.

Stocks are rallying, along with commodities.

The US dollar is also strengthening, except against the Mexican peso, which is soaring higher as the “Wall of worry” over a potential Trump presidency is lowered. It’s up 1.7% against the US dollar, as are most major stock indices.

S&P 500 futures are currently up 1.23%, reflecting the buoyant mood in Asia.

Gold, along with the Japanese yen, euro and Swiss franc — well known safe havens in times of market turbulence for investors — are also trading significantly lower.

US treasuries are also softer with the yield on the benchmark 10-year note rising to 1.826%, up from Friday’s close of 1.783%.

It appears that the news on Clinton has seen markets adopt the view that she’ll likely take the US presidency when voters go to the polls on Tuesday.

However, that’s not to say that outcome is a given. The opinion polls remain tight, and that’s keeping gains at an elevated rather than exuberant level.

And fresh in the mind of investors is the UK Brexit referendum of late June, an event which was supposed to see the remain camp win given months of polls saying it was likely to happen.

Risk assets were rallying hard just before that vote too, only to be proven wrong hours later.

By early afternoon on Australia’s east coast on Wednesday, we’ll probably have a truer indication as to what way the US electorate has voted.

Here’s the Asian market scoreboard as at 2.45pm in Sydney:

Stocks

  • ASX 200 5243.20 , 62.38 , 1.20%
  • Nikkei 225 17135.40 , 230.04 , 1.36%
  • Shanghai Composite 3133.56 , 8.24 , 0.26%
  • Hang Seng 22783.86 , 141.24 , 0.62%
  • KOSPI 1996.55 , 14.53 , 0.73%
  • Straits Times 2799.16 , 10.36 , 0.37%
  • S&P 500 Futures 2105.50 , 25.50 , 1.23%

Forex

  • USD/JPY 104.18 , 1.06 , 1.03%
  • USD/CNY 6.7848 , 0.0138 , 0.20%
  • AUD/USD 0.7677 , 0.0007 , 0.09%
  • NZD/USD 0.7316 , -0.0007 , -0.10%
  • AUD/JPY 79.98 , 0.88 , 1.11%
  • EUR/USD 1.1079 , -0.0056 , -0.50%
  • GBP/USD 1.2458 , -0.0059 , -0.47%
  • USD INDEX 97.445 , 0.3800 , 0.39%

Commodities

  • Gold $1,292.40 , -$11.35 , -0.87%
  • Silver $18.19 , -$0.20 , -1.08%
  • WTI Futures $44.54 , $0.47 , 1.07%
  • Copper Futures ¥39,920 , ¥790 2.02%
  • Iron Ore Futures ¥508.50 , ¥5.00 , 0.99%

10-Year Bond Yields

  • Australia 2.361%
  • New Zealand 2.800%
  • Japan -0.059%
  • Germany 0.140%
  • UK 1.133%
  • US 1.826%

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