Asian Market Update:
Asian Market Update: Treasury yields declined -0.5 bp to 1.826%, JGB yields fell back -1.0 bp to -0.097% as escalating political unrest in Hong Kong weigh on risk appetite. Equities got some support from China's decision to lower the 7-day reverse repo rate to 2.50% from 2.55% - the first cut since 2015. The move put pressure on the yuan and helped equity markets to buy into stimulus hopes. Topix and Nikkei have gained 0.24% and 0.49% and the Hang Seng looked past internal tensions and rose 1.13%, while CSI 300 and Shanghai Comp lifted 0.7% and 0.6% respectively. The ASDX underperformed and declined -0.40% amid doubts over the U.S.-Sino trade deal. Bond markets in Australia and New Zealand also underperformed after a jump in New Zealand's Performance Services Index jumped to 55.4 from 54.5 in September, which undermined easing hopes. U.S. stock futures are fractionally higher at the start of what is likely to be a quiet week ahead of the Thanksgiving holiday. In forex markets USD-JPY is trading little changed at 108.84, with the dollar only making some headway against the AUD. The front end WTI future is trading at USD 57.75 per barrel.