Shares in Japan were set to rise, even as Wall Street fell with the Nasdaq closing in correction territory, and U.S. yields retreated after rising this week.
"It is hard to get too excited with the overnight declines in yields, the economic backdrop is still pointing to an increase in inflationary pressures and resilient growth, pointing to the need for the Fed as well as other central banks to shift towards a tighter
policy setting, thus higher global rates over 2022 still look very likely," Rodrigo Catril, senior FX strategist at National Australia Bank, wrote in a Thursday note., with higher energy costs, resurgent demand and supply chain issues continuing to drive up consumer prices.
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