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Investor optimism is reflected by the risk-taking appetite that is lifting equity markets and bond yields. With Japanese markets closed for a national holiday, the MSCI Asia Pacific Index was led higher by more than 1% gains in Hong Kong, Taiwan, South Korea, and Thailand. The regional benchmark advanced for the seventh session in the past eight and is approaching the year's high. European shares extended their rally, and the Dow Jones Stoxx 600 has risen in nine of the previous 11 sessions. It is within spitting distance of last year's high. US shares