Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields are down -1.8 bp at 2.724%, as Fed officials continue to pledge patience and Powell said the Fed "can be patient and flexible and wait and see", although he also said the bank will keep shrinking the balance sheet. Still with other Fed officials also signalling patience it seems central banks are increasingly weary of downside risks and the cautious messages are supporting both stock and bond markets. JGB yields are down -0.5 bp at 0.005%, despite gains on most Asian stock markets. Topix and Nikkei are up 0.51% and 0.97% respectively, the Hang Seng gained 0.54% and the CSI 300 0.56%, while the ASX underperformed and lost -0.36%. U.S. stock futures are heading south, led by a -0.14% decline in the NASDAQ, while European futures are moving higher. Oil prices are holding gains and trading at USD 52.56 per barrel.