Asian Shares track Wall Street's inflation optimism, yen recoups losses

"The bottom line for us is two-fold. First, inflation is coming down, but it will not be a smooth decline. A return to target for inflation was never very likely this year, so patience is required regardless," said Seth Carpenter, chief global economist at Morgan Stanley.

Treasuries were largely steady, with the yield on benchmark 10-year government bonds mostly unchanged at 3.7073%. In currency markets, the dollar remained subdued ahead of the inflation data, after suffering a 0.3% loss against its major peers last session.Japan's 10-year bond yields hovered at 0.5% - hitting the upper limit of a range enforced by the Bank of Japan - as investors bet the yield control policy would wound up eventually under the new governor.

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Wall Street rises ahead of hotly anticipated inflation dataStocks are rising as Wall Street waits for a report to show whether inflation is continuing to cool or perhaps setting the market up for worse pain.
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