(Bloomberg) -- Equity trading in Asia kicked off in muted fashion as global stocks paused at all-time highs, with investors assessing renewed optimism over U.S. stimulus talks and vaccine approval. Treasury yields ticked down and the dollar touched a more than two-year low.Shares opened flat in Japan and futures on the S&P 500 fluctuated after the underlying U.S. gauge closed at another all-time high. Energy firms led in the U.S. session, while tech shares underperformed on concerns about valuations. House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer called for immediate talks and said a bipartisan $908 billion aid proposal should be the foundation for negotiations. The U.K. approved the Covid vaccine from Pfizer Inc. and BioNTech SE.Elsewhere, Australia’s 10-year yield briefly climbed through 1%. Oil resumed this week’s decline. The pound held losses seen Wednesday, when the European Union’s chief Brexit negotiator Michel Barnier reportedly told envoys the outcome of any deal is still too close to call.After vaccine breakthroughs fueled record monthly gains for global stocks, investors are turning some of their attention to bonds. One of the year’s biggest spikes in Treasury yields on Tuesday has spurred speculation about the potential impact of rising rates on stocks and corporate debt.“The market has almost immediately priced in a better-than-expected 2021, particularly in the second half and that’s what we are seeing here, and on the yield curve as well,” Alicia Levine, chief strategist at BNY Mellon Investment Management, said on Bloomberg TV. “The message here really is that better days are ahead and that dips and consolidations are eminently buyable.”Meanwhile, Federal Reserve Chair Jerome Powell indicated Wednesday that there was no rift between the central bank and Treasury Secretary Steven Mnuchin over the sunsetting of emergency lending programs. The U.S. House cleared legislation that would impose restrictions on Chinese companies listed on U.S. exchanges.These are some key events coming up:The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than October.German factory orders for October are due Friday.Here are some of the main moves in markets:StocksS&P 500 futures were little changed as of 9:25 a.m. in Tokyo. The gauge rose 0.2% on Wednesday.Japan’s Topix index was little changed.Australia’s S&P/ASX 200 Index added 0.4%.CurrenciesThe Bloomberg Dollar Spot Index fell less than 0.1%.The yen was at 104.50 per dollar.The offshore yuan held at 6.5464 per dollar.The euro bought $1.2108.BondsThe yield on 10-year Treasuries dipped one basis point to 0.93%.Australia’s 10-year yield rose one basis point to 0.99%.CommoditiesWest Texas Intermediate crude slid 0.6% to $45.02 a barrel.Gold dipped 0.1% to $1,829.11 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.