A gauge of the region’s equities fell to head for a second week of declines. US stock futures were steady in Asia amid wariness around economic challenges that saw the S&P 500 swing from a gain of more than 1% to a loss of almost the same.
The dollar was supported amid elevated Treasury yields. The pound fell, while the yen remained weaker than the closely-watched 150 per dollar level, boosting speculation that more intervention will be needed to support the Japanese currency. Japan’s benchmark 10-year yield was back at the 0.25% upper limit of the central bank’s trading range after the monetary authority announced unscheduled bond purchases on Thursday to rein it back in.
Meanwhile, US equity volatility is showing no signs of abating ahead of Friday’s $2-trillion options expiration and another raft of corporate earnings.
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