Asian markets Wrap:
Asian markets Wrap: 10-year Treasury yields are down -1.4 bp at 2.696%, 10-year JGB yields down -0.1 bp at 0.017%. Hawkish leaning Fed speakers and minutes yesterday continue to underpin Treasuries, but bonds also got support from reduced risk appetite as the stock market rally started to run out of steam during the Asian session. Trade talks between the U.S. and China may have ended on an optimistic note, but traders fear that it could drag on for a long while. Much weaker than expected inflation data out of China added to concern about flagging demand in the economy. Meanwhile talks in the U.S. to end the partial government shutdown collapsed, with Trump calling the meeting a "waste of time". The offshore yuan allied, but Topix and Nikkei lost -0.85% and -1.29% respectively as the yen strengthened. The Hang Seng is up 0.7%, the CSI 300 up 0.8%, but the Shanghai Comp lost -0.12% and U.S. and European stock futures are heading south, while oil prices pulled back from highs over USD 52 per barrel to now USD 51.71 per barrel.