(June 16): Asian stocks rebounded from their biggest decline since March and U.S. futures climbed after news about US monetary and fiscal stimulus plans bucked up investor sentiment in face of worries over a second wave of the coronavirus.

S&P 500 futures spiked to session highs on news the Trump administration is considering US$1 trillion (S$1.39 trillion) in infrastructure spending. The index Monday erased losses and closed higher after the Federal Reserve detailed plans to buy individual corporate bonds, underscoring its role as a backstop. The MSCI Asia Pacific Index climbed over 3%, while the dollar slumped and Treasuries dropped.

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