Overview
The prospect of not just the failure of the US and China to resolve its trade dispute but a new escalation has sapped the confidence that had lifted equity benchmarks and the greenback. Led by more than a 1% decline in Tokyo (Nikkei), Hong Kong, and Australia, all the major markets in the Asia-Pacific region fell. European shares, perhaps encouraged by an upward revision to the flash composite PMI, are snapping a four-day 2.75% slide. US shares are firmer in Europe. Bond markets in the Asia-Pacific played catch up after US 10-year Treasury yields