SINGAPORE - Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts.
"The sell-off itself has largely corrected, and the recession scare has given way to soft landing hopes again," said Bank of Singapore analyst Moh Siong Sim. The euro is up nearly 3% for August to date and, at $1.1130 in morning trade, is at its highest since early December and testing major chart levels.
The mood kept bond markets supported and 10-year U.S. Treasury yields nudged lower to 3.81%, while two-year yields hovered at 3.9962%.
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