Asian Market Wrap:
Asian Market Wrap: Markets are firmly back in the grip of risk aversion, and Treasury yields corrected as the stock sell off continued during the Asian session. 10-year Treasury yields are down -2.5 bp at 2.173%, JGB yields dropped -0.4 bp to 0.142%. Asian stock markets meanwhile are a sea of red. Topix and Nikkei lost -2.26% and -2.27% respectively. The Hang Seng is down nearly 2%, and while mainland China bourses are slightly outperforming, they are also down 1-1.5%. U.S. futures are also sliding ahead of key earnings reports this week, which together with political jitters are clouding over the outlook. Tensions surrounding the killing of a Saudi journalist, midterm elections in the U.S. and continuing U.S.-China trade tensions are just some of the risks weighing on confidence and leaving Chinese stock markets in particular very volatile.