With the exception of the 0.3% rise in the Nikkei, most Asian equity markets have softened today and S&P futures are down slightly. The Hang Seng and Shanghai Composite Indexes are down 0.3% while Kospi and the Taiex have oscillated between very small gains and losses. The US 10yr Treasury yield is flat at 2.646% after yesterday’s rise in New York.AUDUSD has pushed higher to 0.9385 as EURUSD has edged lower to 1.3531 and USDJPY has traded sideways at 102.28. EM Asia dollar paris are little changed. USDCNY fixed 55pips higher to 6.1506, above our model estimate for the day.
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