SYDNEY : Asian share markets were mixed on Monday as risk assets found support from the upbeat U.S. October payrolls report, but faced another test later in the week from a reading on U.S. inflation that could spook the rate horses.
Moves were modest with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.2per cent. Japan's Nikkei lost early gains to dip 0.2per cent, short of a recent five-week peak. Friday's robust U.S. payrolls report included upward revisions to the previous couple of months and another strong reading on wages.
"Another acceleration in the monthly annualised trimmed CPI will reinforce our view that the Fed is behind the curve," said Kim Mundy, a senior economist & currency strategist at CBA. After some wild swings, Treasuries still managed to end last week with a rally, thanks partly to a huge drop in UK bond yields where short-dated debt enjoyed its best week since 2009 after the Bank of England skipped a chance to hike.
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