Asian market holds its breath ahead of data, investors becoming more bearish
After the sharp sell-off of last week, there was a nervous tone in the Asian bond market this week and no new issues ahead of the US non-farm payroll employment figure later today (Friday). Although high grade names rallied from their widest levels, emerging market sovereigns continued to be weak.
While some bankers and investors believe that a job creation figure in line with low expectations — about 170,000 — could give the market some stability between now and the next Federal Open Markets Committee meeting on June 30, others were less confident.
"You've gone from a market that
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