Asian stock markets are expected to rise following US stocks, while Australian and New Zealand bond yields are falling

According to Bloomberg, Asian stock markets are expected to generally follow the rise of U.S. stocks on Thursday. Australian and New Zealand bond yields fell in early trading on Thursday, following the upward trend of U.S. Treasury yields on Wednesday. The yield on 10-year U.S. Treasuries dropped 11 basis points to 4.03%, its lowest level since February.

The decline in U.S. bond yields also boosted the yen's rise. In early trading on Thursday, the yen remained stable. Economic data set to be released in Asia on Thursday include Australian trade data, Indonesian inflation data and China's Caixin Manufacturing PMI for July.

In terms of commodities, West Texas Intermediate crude oil rose in early trading on Thursday, extending Wednesday's gain of 4.3%, which was its largest single-day increase in more than two years. Gold remained steady after rising on Wednesday.

Changes in Federal Reserve statements have solidified a shift in tone among several policymakers including Powell who acknowledged increased risks to labor market conditions.The market has fully anticipated a rate cut in September; neither Fed statements nor Powell’s remarks significantly altered interest rate paths.Interest rate swaps show traders still fully expect a September cut by 25 basis points with total cuts this year nearing 70 basis points.