Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields are up 0.4 bp at 3.066%, JGB rates fell back -0.8 bp to 0.085%. 10-year Treasury yields are still up versus last week's close, and so far central banks are putting on a brave face and remain on course to take out more stimulus, but global markets are clearly struggling amid the multitude of uncertainties and risks. The sell off on stock markets continues and concerns are spreading to corporate bond markets, which investors struggling to find havens. Japanese indices are broadly lower, although the pace of the decline slowed somewhat during the Asian session, and the -0.35% drop in the Nikkei looks modest compared to the 2.2% slide in the Dow Jones yesterday. Most Asian markets managed to make of some of their early losses during the course of the session and oil prices have come back from an early low of USD 53.39 and are trading at USD 54.14 per barrel. The tech stock sector remains under pressure and the Topix is down 0.60%. The Hang Seng lost -0.58%, while mainland China bourses. managed to pare losses and Shanghai and Shenzen Comp are now up 0.04% and 0.28% respectively as officials hammer out the details of a meeting between President Trump and Chins'a President Xi Jinping in Buenos Aires on December 1. U.S. stock futures are also moving higher.