
Asian share markets are seeing a broad selloff as the riskoff mood in the wake of bond sales continues to dominate the marketplace as we await Friday’s NFP print from the US. The USD is lifting slightly after being against a wall of selling against the majors but all eyes on are US Treasuries as the 30 year yield starts to test the 5% level. The Australian dollar has pulled back slightly on the latest GDP and PMI prints but still remains above the 65 cent level.
Oil markets are trying harder to get out of their recent depressed mood with Brent crude pushing through the $69USD per barrel level while gold held on after its decisive breakout above the $3500USD per ounce level:

Mainland Chinese share markets are selling off going into the close with the Shanghai Composite down more than 1% while the Hang Seng Index is down 0.6% to remain above the 25000 point level. Japanese stock markets are not doing well either despite the much weaker Yen as bond yields weigh on the market with the Nikkei 225 closing 0.9% lower at 41933 points with the USDPY pair holding at the 148 level for a near two week high:

Australian stocks sold off sharply again with the ASX200 closing nearly 2% lower to 8740 points while the Australian dollar has slid back towards the 65 handle on the GDP and PMI prints after recovering some of its recent falls against USD:

S&P futures are suggesting a slight pullback with Eurostoxx futures also flat going into the London session with the S&P500 four hourly chart showing the market unable to stay above the 6500 point level with momentum still stuck at negative levels as it fails to exceed the early August highs:

The economic calendar includes the latest US factory orders and Fed Biege Book.