- Asia mostly higher heels of US strength, calming words from Fed governors yesterday, and less concern about imminent tapering by the Fed.
- Nikkei up 3.5% on mixed economic data....household spending missed, CPI inline, and retail sales and ind prod missed.
- China...PBoC official calms markets saying economy is now in check. SHIBOR < 5%.
- European data mixed...markets giving ground.
- US Tsys had rallied overnight, but early hours saw selling, pushing 10s up in yield to 2.528% from 2.48% earlier. Equity futures give up gains and turn negative.
- Fed's Lacher 'doubts more stimulus effective'
- Fed's Stein mentions September as possible tapering date
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