Asian Market Wrap:
Asian Market Wrap: Treasuries recovered during the Asian session after better than expected data and a weak auction put pressure on bonds yesterday. The 10-year Treasury yields is currently down -0.5 bp at 2.132%. Bonds across Asia were under pressure though and JGB yields moved up 2.6 bp to -0.121%, while Australia's 10-year yield jumped 12.0 bp to 1.450%. The RBA already cut rates to record lows and comments from the central bank governor yesterday didn't sound as though the bank was readying further easing at the moment, which. Stock markets were cautious ahead of trade and lending data out of China today, which are expected to set the tone for GDP numbers out on Monday. With Powell's testimony out of the way the focus is shifting back to the impact of trade tensions and after Singapore reported the weakest GDP growth number in a decade investors are holding back before taking fresh positions especially after a tweet by U.S. President Trump saying China was not living up to promises made on buying agricultural products from the U.S.. Indices swung between gains and losses overnight and Topix and Nikkei are currently down -0.19% and up 0.15% respectively. The Hang Seng is up 0.41%, CSI 300 and Shanghai Comp are 0.75% and 0.55% higher, while the ASX corrected -0.33%. U.S. futures are posting slight gains and the front end WTI future is rading at USD 60.58 per barrel, amid escalating tensions in the Middle East.