Lukewarm session for Asian stocks today
Asian stocks fail to take heart in the record day for the S&P 500 and Nasdaq yesterday, as the Nikkei closes near stable levels while the Hang Seng and Shanghai Composite are seen down 0.1% and 1.3% respectively.
Stocks are sort of taking a breather at the moment, although the rise in Treasury yields may also be a bit of a concern. 10-year rates are now up 3bp to 0.714% on the day and close to the August 13 high of 0.725%.
The mixed risk tone leaves little room for major currencies as the ranges remain narrower to start European morning trade. EUR / USD is a little lower at 1.1816 but still stands in a 32 pip range today.