Treasury yields dropped to a record low on Thursday, falling below 2%, while yields on benchmark 10-year notes dipped to a three-year low, as investors flocked to safe haven assets.
Meanwhile, stateside the Dow Jones Industrial Average suffered its worst day of the year on Wednesday on the back of the yield curve inversion, but U.S.Asian stocks were mixed on Friday as investors monitored U.S. Treasury yields. The MSCI Index, the broadest listing of Asia-Pacific shares outside Japan, was trading around 0.7% lower, while the Japanese Nikkei hovered just above the flatline. Hong Kong's Hang Seng index was up 0.8%.
Investors will also be watching for developments in the U.S.-China trade war. U.S. President Donald Trump said Thursday that trade negotiators were holding "productive" talks, adding that he expected a meeting to be held in September, Reuters reported. However, Beijing said on Thursday that it would retaliate to the latest round of U.S. tariffs on Chinese goods.
Waiting for a MagicTweet this Friday ...
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