Asian markets on Friday looked to latch onto Wall Street's overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession.
Projections released by the U.S. Congressional Budget Office showed U.S. gross domestic product will decline by more than 7% in the second quarter as the coronavirus crisis takes hold.
Investors sought the perceived safety of government bonds. Benchmark U.S. 10-year notes US10YT=RR fell in price to last yield 0.6111%. The dollar gained for a second straight day against a basket of currencies as investors continued to take shelter in the U.S. currency.weakened 0.21% versus the greenback at 108.15 per dollar.
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