Asian Market Wrap:
Asian Market Wrap: The global stock market stabilisation continued in Asia and volatility is receding as optimism in the global growth outlook returns following a cautiously optimistic Beige Book from the Fed. Energy companies are underpinned by rising oil prices as inventory levels fall. 10-year Treasury yields meanwhile are up from earlier lows, but still down -0.4 bp on the day at 2.869%, while 10-year JGB yields rose 0.3 bp to 0.031%. Elsewhere in Asia long yields are also higher as equity markets recover. The Nikkei gained 0.23%, Hang Seng and CSI 300 rallied a further 1.3% and 1.1% amid rumours of state intervention in China. U.S. stock futures are also in the green, with NASDAQ futures outperforming. The front end Nymex future is trading at USD 68.79 per barrel.