Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields are up 0.4 bp at 2.522%, JGB yields climbed 1.3 bp to -0.028%, after the BoJ announcement and ahead of the press conference. The central bank left rates unchanged, but clarified its forward guidance, saying it will keep rates very low at least through to the spring of next year. At the same time, the bank said it would expand the eligible collateral and also consider the introduction of an Exchange-Traded Fund (EFT) lending facility, that would allow to temporarily lend EFTs that the Bank holds to market participants. Japanese stock markets outperformed going into the announcement and as of 5L55GMT Topix and Nikkei were up 0.55% and 0.57% respectively. Elsewhere markets were cautious after an unexpected -0.3% contraction in South Korea GDP rekindled concerns about the outlook for world growth. The Hang Seng basically moved sideways and is down -0.8%, while the CSI 300 blue chip index fell back -0.87% and The Shanghai Comp dropped -1.01%. Australia and New Zealand were closed for holidays. U.S. futures are posting slight gains and the front end Nymex future is trading at USD 65.91 per barrel.