Overview:
Equity losses in the U.S. appeared to drag most Asia Pacific markets lower today, with China and India the notable exceptions. European bourses are higher, and the only energy sector is a drag on the Dow Jones , which is around 1% higher in late morning turnover, while U.S. shares are also trading firmer. Asia Pacific 10-year benchmark yields eased. European yields are little changed, but Italian bonds have rallied after the premium over Germany approached a one-month high yesterday near 235 bp (from 194 bp at the end of last week), apparently triggering a stronger official response.
The U.S. yield is holding below 65 bp. The firmer against most of the currencies. The and are the best performers at little changed levels. Most major currencies are off around 0.25%-0.30%. Among emerging market currencies, the and are resisting the dollar’s pull, while is nursing losses following the downgrade by Fitch late yesterday.
is firm, but within yesterday’s ranges and…
