Asia stocks set to decline as bond markets signal recession warning

Investors will be watching the bond market today, after the yield on the benchmark 10-year Treasury note briefly broke below the 2-year rate overnight, an odd bond market phenomenon that has historically been a reliable indicator of economic recessions.

Futures pointed to a sharply lower open for Japanese stocks. The Nikkei futures contract in Chicago and Osaka were both at 20,100, as compared to the Nikkei 225's last close at 20,655.13.

All non-U.S. markets follow the US market. Saved you... whatever

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