Asian Market Update:
Asian Market Update: 10-year JGB yields are down -0.1 bp at -0.145%, Treasury yields fell back -0.5 bp to 1.755%, as risk aversion picked up again amid fresh Brexit uncertainty. Stock markets outside of Japan struggled. Topix and Nikkei moved up 0.5% and 0.2% respectively in catch up trade, after returning from yesterday's holiday. Elsewhere an FT report that China is preparing to replace Hong Kong CEO Carrie Lam caught attention and the Hang Seng dropped -0.8%. Meanwhile the PBOC slashed the rate for the onshore yuan and injected further liquidity. USD/CNY was set at 7.0752, versus 7.0668 yesterday as CSI 300 and Shanghai Comp declined -0.3% and -0.1%. The ASX moved sideways but U.S. futures are down to the of 0.1%, as the earning season continues. So far reports have been better than some feared, but the geopolitical risk backdrop remains worrisome. Oil prices meanwhile fell back from yesterday's highs seen in the wake of a report that OPEC and its allies will discuss deepening supply cuts next month. The front end WTI future is currently trading at UISD 54.08 per barrel.