Asian Market Wrap:
Asian Market Wrap: 10-year Treasury yields are down 0.5 bp at 2.097%, JGB yields moved up 0.1 bp to -0.131% overnight. Stronger than expected U.S. retail sales data put some pressure on bond markets, but with Chicago Fed President Evans flagging two rate cuts this year and U.S. President Trump threatening to put another USD 325 B of tariffs on Chinese goods stock markets were nervous and risk aversion lingered. U.S. stock futures are posting fractional gains and Topix and Nikkei are currently down -0.05% and -0.27% respectively. The Hang Seng corrected -0.23% and CSI 300 and Shanghai Comp lost -0.06%. Released overnight, a -17.3% decline in Singapore non-oil exports highlighted the damaging impact of global trade tensions. U.S. stock futures are posting fractional gains. Oil prices are trading at USD 57.69 per barrel, after diving yesterday on indications that U.S.-Iran tensions could be easing. Bank of America and Netflix are due to report results today.