US bank jitters hit Asia stocks; yen drops with JGB yields after BOJ

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Falling bank stocks drove Asian markets lower on Friday, while bonds rallied and expectations for U.S. interest rate rises were reduced after a surprise capital raising at a Silicon Valley startup lender unleashed fears of broader banking-system stress.

down 4.1% and big lenders in Asia and Australia on the slide - albeit to a lesser extent - on Friday morning.

"The thinking is that if what the Fed's doing is causing this distress, then perhaps they won't be doing that much more," he said.

 

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