Asian Market Wrap:
Asian Market Wrap: Treasury yields are up 0.4 bp at 2.882%, 10-year JGB yields jumped 1.0 bp to 0.098%, as Japanese stock markets rebounded as the yen weakened. Topix and Nikkei gained 1.36% and 1.86% respectively, while Chinese markets headed south and long yields declined in China amid data showing that the Hang Seng and CSI 300 lost -1.07% and -0.81% respectively, the Shanghai Comp declined -0.55% as production, retail sales and investment data suggested that the economy hit a rough patch in the middle of the year. Elsewhere though things looked a bit more stable and the ASX 200 meanwhile gained 0.73%. U.S. futures are also moving higher. The Turkey crisis continues to weigh on sentiment amid the ongoing standoff between Ankara and Washington and as Turkey's central bank continues to hold off with the sharp hike in rates that many feel is necessary to get markets under control. Emerging market currencies remained under pressure though as traders work their way through the implications of the Turkey crisis and Bitcoin dropped below USD 6000 amid general pressure and crypto currencies. Oil prices are slightly up from lows and the September Nymex future is trading at USD 67.45 per barrel.