Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields corrected -2.7 bp to 2.567%, JGB yields are down -1.4 bp at -0.0033%. Asian bonds were generally supported, as stock markets sentiment turned sour again, with South Korean paper underperforming after the BoK left interest rates unchanged, but cut its growth and inflation forecast to now 2.5% and 1.1% respectively. Record household debt was one of the factors holding the BoK back from cutting rates for now, and South Korea's 10-year yield jumped 5.9 bp as the bank tried to calm recession fears. Stock markets generally corrected from the six months high seen yesterday with uninspiring corporate earnings and problems with a new Samsung phone preventing further gains for now. Topix and Nikkei lost -096% and -0.80% respectively, after Wall Street closed with slight losses. The Hang Seng is down -0.58%, CSI 300 and Shanghai Comp down -0.44^ and -0.39% respectively. The ASX dropped -0.10% and U.S. stock futures are also broadly lower, suggesting ongoing pressure on markets. The front end WTI future meanwhile is trading at USD 63.77 per barrel.