Asian stocks rose on Tuesday while U.S. bond yields and the dollar hung back from multi-month highs as traders awaited President-elect Donald Trump’s cabinet selection and sought to gauge the outlook for Federal Reserve easing. Markets have pared bets for a quarter-point interest-rate cut at the Fed’s next meeting in December to less than 59%, down from 62% a day earlier and more than 65% a week ago, according to CME FedWatch. Trump’s mooted fiscal spending, higher tariffs and tighter immigration are seen as inflationary by analysts, potentially impeding Fed rate cuts, which are already being hampered by a run of resilient economic data.

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