Asian equities traded mostly in negative territory after declines in energy & mining stocks and further uncertainty over the US tax bill. Hong Kong suffered the most after concerns arose that China would limit the flow of mainland funds into the city's stocks (Nikkei -0.2%, S&P/ASX -0.1%, Shanghai Comp -0.6% & Hang Seng -0.74%). Bond markets spiked higher on the open with US10s, JGB's & Aussie Bonds all setting their highs in the early part of the session. Various reasons were muted with several Fed speakers, Trump nominee Powell's prepared statement to the senate banking committee, further concerns surrounding the Tax Bill and a re-run of the early story concerning an imminent missile launch from North Korea all being cited. JGB's led the way after analysts warned of a potential short squeeze in futures due To delivery constraints. The Dollar was pulled one way and then the other on the back of the various news stories but finished the session mixed making gains vs the Yen but slipping back against the GBP and Euro. Elsewhere Oil continued to drift lower while Gold traded within a very tight range.
-Key Headlines:
-AUSTRALIA ANZ CONSUMER CONFIDENCE INDEX FALLS TO 115.0 VS 116.4
-REUTERS: BOJ’s Kataoka: No need to debate exit strategy now - Sankei
-Fed's Kashkari: no reason to 'tap brakes' on U.S. economy
-Dudley Says He Doesn't Favor Tax Stimulus Now as It's Not Needed
-Powell, in Prepared Remarks, Backs Further Slow Rate Hikes
-Australia sold A$150 Mln 0.75% 2027 bonds at an average yield of 0.64%, bid-
to-cover 4.83
-KURODA: ASIA IS MORE RESILIENT AGAINST ECONOMIC SHOCKS
-CHINA BANS SOME FUNDS FROM SELLING STOCKS BY LARGE SCALE:QQ.COM
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