Asian Market Wrap:
Asian Market Wrap: Yields are mixed, across Asia, stock markets managed to come back from the lows seen early in the session after Trump's latest threat of an additional USD 100 B tariff on imports. China was quick to promise additional measures of its own once U.S. tariff plans are confirmed. The escalating trade spat initially send Asian stock markets down, but the ASX closed with a marginal gain of 0.01%, the Nikkei is up 0.11% and the Hang Seng outperforming with a gain of 0.57%, after coming back from the holiday. China remained closed for the day. U.S. stock futures, however, are selling off and while 10-year JGBs are unchanged at 0.033%, the 10-year Treasury yield is down -2.2 bp at 2.81%. Some concerns that Trump will be targeting Japan's currency policy at an upcoming summit between Abe and Trump later this month, may add to the underperformance of JGBs.