SYDNEY: Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows.
Japan's Nikkei fell 0.5per cent, making a loss of 1.8per cent on the week, while commodity-exposed Australia was heading for a weekly drubbing of 2.7per cent.E-Mini futures for the S&P 500 did rise 0.24per cent, but were still off 2.2per cent on the week so far. Overnight, the Dow rose 0.39per cent, while the S&P 500 0.25per cent and the Nasdaq dropped 0.09per cent.
Such is the gloom that surprisingly strong U.S. retail sales came and went with no impact on the bond rally.Analysts have cautioned that the current bond market is a different beast than in the past and might not be sending a true signal on recession. There were plenty of other signs the cavalry were coming. European Central Banker Olli Rehn on Thursday flagged the need for a significant easing package in September.
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