Asia EM has a softer bias with $ govie/agency spreads up +3bp wider in the morning. The outlier bein...
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Asian equity markets are mostly trading with a positive footing in the first part of Monday trade. The Nikkei 225 is up around 1%, likewise for the Hang Seng in Hong Kong. The Kospi continues to be an outperformer, up over 1.6%.
The first part of Monday US Tsy trade has seen outperformance, led by the front end. For the 2-5yr tenor yields are off around 3bps. The 10yr Tsy yield is back under 4.49%.
New Zealand government bond yields sit firmer but away from session highs. Spill over from softer US Tsy yields, particularly at the front end of the curve, has been evident as Asia Pac Monday trade has unfolded.