Asian Stocks to Extend Losses on Geopolitical Risk: Markets Wrap

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(Bloomberg) -- Asian stocks are poised to fall as volatility gripped Wall Street with traders looking for signs of a potential escalation of the Middle East ...

-- Asian stocks are poised to fall as volatility gripped Wall Street with traders looking for signs of a potential escalation of the Middle East conflict, while weighing Federal Reserve chairman Jerome Powell’s remarks for clues on the policy outlook.Israel Latest: Israel at Risk of Moody’s Debt Rating Downgrade

Treasury 10-year yields approached 5%, while two-year rates fell after Powell said the Federal Reserve will proceed carefully with rate hikes, while citing evidence that policy isn’t “too tight.” Swaps trimmed the implied odds of another Fed rate increase to under 50%, and priced a start to cuts in July, compared with September previously.

Traders will soon shift their attention to Japan’s inflation report due later Friday for clues as to when the Bank of Japan may begin exiting its ultra-easy policy stance. The BOJ on Thursday upgraded its economic assessments for the most regions in a sign of growing confidence in the economic recovery, while ex-board member Makoto Sakurai said the central bank could scrap its negative interest rate policy by year-end.Netflix Inc.

AT&T Inc. raised its free cash flow guidance for the full year after posting mobile subscriber gains and profit that beat analysts’ estimates.

 

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