Asian Market Wrap:
Asian Market Wrap: 10 year Treasury yields are down -1.7 bps at 1.997%, JGB rates fell back 0.4 bps to -0.165% as stock markets headed south with investors fretting about escalating U.S.-Iran tensions. Topix and Nikkei lost early gains and are down -0.3% and -0.6% respectively after Iran said President Trump's move to impose sanctions against its supreme leader and other top Iran officials has closed the path to a diplomatic solution. Mainland China bourses underperformed and CSI 300 and Shanghai Comp dipped -1.6% and -1.5% respectively, after U.S. officials tried to calm expectations for the meeting between Trump and Xi Jinping at the side-lines of the G020 meeting. The Hang Seng declined -1.3% and U.S. futures are down -0.2-0.5% as traders await Powell's speech today. The front end WTI future saw a high of USD 57.98 per barrel before pulling back slightly to now USD 57.45.