Global yield fever cools, but EM conditions tighten
Live MintBy Jamie McGeever Jan 10 - A look at the day ahead in Asian markets. Investors in Asia approach the end of a bumpy week hoping that the relative calm that descended on the dollar and a shortened U.S. bond market session on Thursday can extend into the local session on Friday. With the December U.S. employment report looming large and markets still feeling the whiplash from the surge in global long-term bond yields this week, trading in Asia may end up fairly range-bound and subdued. The Nikkei is on track for a decline of around 0.7% on the week, underperforming the wider MSCI Asia ex-Japan index, which goes into Friday's session flat on the week. Stocks are significantly lagging their regional and global peers, the bond yield collapse has been alarming, and uncertainty around a possible trade war with the U.S. is cutting deep.