Asian equities traded mixed on Wednesday with little reaction to North Korea's missile launch although they did trade lower on the news of an important announcement due out of NK (Nikkei +0.43%, Hang Seng -0.26%, Shanghai Comp -0.55% & S&P/ASX +0.45%). North Korea announced that it had begun to complete its Nuclear program and that the Missile program will not threaten any country as long as they do not infringe on NK sovereign gains. Was this one last act of defiance before succumbing to Chinese pressure ! We shall see. Bond markets had a positive session benefiting initially to a small 'Risk Off' scenario and remaining firm through out the day. TYZ7s gained 3 ticks in a low volume session were the Dec/Mar roll was in full flow. Aussie markets went out at their highs with the 10yr closing above the previous days high. JGB's also finished above the previous range gaining 9 ticks on the day. The US$ was mixed finishing unchanged vs the Yen but losing out to Cable after news reports of a deal on the Brexit divorce bill. Elsewhere Oil traded lower and Gold was unchanged but Bitcoin oncve again surged to record highs reaching 10.903.
-Key Headlines:
-Japan Retail Data (Oct) Sales M/M 0.0% vs +0.2% exp, pvs +0.8%. Trade Y/Y -0.2% vs 0.0% exp, pvs +2.3%.
-Japan Department Store, Supermarket Sales (Oct) -0.7% vs -0.8% exp,
pvs +1.9%.
-UK BRC Shop Price Index Y/Y (Nov) -0.1%, pvs -0.1%.
-The PBoC set the yuan mid-point at 6.6011 against the Dollar
-The PBoC injected 160 Bln yuan via 7-day reverse repos; injected 70 Bln yuan via 14-day reverse repos; injected 10 Bln yuan via 63-day reverse repos.
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