A tepid session for Asian equities today
Asian stocks are failing to take heart in the record-setting day for both the S&P 500 and Nasdaq yesterday, as the Nikkei closes near flat levels while the Hang Seng and Shanghai Composite are seen down by 0.1% and 1.3% respectively.
Equities are sort of taking a bit of a breather for now, though rising Treasury yields may be a bit of a concern as well. 10-year yields are now up by 3 bps to 0.714% on the day and are moving close to the 13 August high @ 0.725%.
The mixed risk tone is leaving little for major currencies to work with as ranges are keeping more narrow to start European morning trade. EUR/USD is a little lower at 1.1816 but still holding within a 32 pips range today.
