Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields are down -0.7 bp at 2.596%, JGB rates are down -0.4 bp at -0.052%. Central banks in Indonesia, the Philippines and Thailand hold policy meetings this week and are expected to stay on hold but the main focus is the eagerly awaited Fed announcement tomorrow, with the U.S. central bank expected to turn down the to now pencil it just one rate hike this year. However, while the prospect of ongoing support from central banks and governments helped stock markets to move higher across Asia yesterday, today's trading saw a broad correction, with Chinese indices, wich outperformed Monday, underperforming today. The Shanghai Comp had lost -0.63% as of 6:24GMT, the CSI 300 was down -0.82%, while the Hang Seng had declined -0.23%. Topix and Nikkei closed with losses of -0.21% and -0.08% respectively and the ASX was down -0.09% in the end. U.S. futures are posting fractional gains, while European futures are down. The front end WTI future meanwhile is trading at USD 58.98 per barrel, after touching a high of USD 59.14 overnight.