Asian markets are trading generally higher today, but gains are rather limited. Nikkei is currently up 0.94%. Singapore Strait Times is up 0.48%. But Hong Kong HSI and China Shanghai SSE are up merely 0.19% and 0.11% respectively. US-China trade talks will step up a level when Chinese Vice Premier Liu He visit Washington later in the month. Fed officials, including Chair Jerome Powell, continued to emphasize patience before another rate move. But the lift on sentiments is limited.

Overnight, DOW extended the rebound but closed up just 0.51% at 24001.92. Nevertheless, reclaiming 24k handle is a positive development. S&P 500 rose 0.45% and NASDAQ rose 0.42%. Treasury yields continued to display strength at the long end. 30-year yield rose 0.027 to 3.051. 10-year yield rose 0.003 to 2.731. But yield curve remains inverted from 1-year (2.615) to 2-year (2.578) to 3-year (2.549) and 5-year (2.568).

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In the currency markets, Dollar is the weakest one in Asian session today, followed by Yen and then Sterling. Commodity currencies and Euro are the strongest.

Over the week, the picture is pretty similar.


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