Stock futures turned red in Asia early on Monday as a standoff in Sino-U.S. trad...
SYDNEY - Stock futures turned red in Asia early on Monday as a standoff in Sino-U.S. trade talks blunted risk appetite, underpinning safe harbors including the Japanese yen and sovereign bonds.
Treasury futures firmed 4 ticks, partly as a safe haven but also on speculation a trade war would cloud global growth and thus keep major central banks accommodative. “Talks are on-going, but our base case is for limited progress and Chinese retaliation. We see a significant risk for all Chinese imports to be subject to tariffs over the next month or so,” said Michael Hanson, head of global macro strategy at TD Securities.
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