- Shares fell across Asia after stronger-than-expected private hiring data in the US roiled Wall Street equities and pushed Treasury yields higher.
- An Asian equity index fell for the third day in a row, with Australia as well as Hong Kong technology firms leading the way. Following losses of 0.8% for the S&P 500 and Nasdaq 100 benchmarks on Thursday, US equity futures have edged lower as investor attention shifts to Friday's critical nonfarm payrolls data.
- Treasuries extended their losses in Asia, with the policy-sensitive two-year yield breaking above 5% and the 10-year note yield hovering near the highest level since March. Following the ADP report and data showing the service sector expanded at the fastest pace in four months, the two-year yield increased by up to 17 basis points on Thursday.
- The drop in Treasury yields reverberated throughout Asia, with Australia's 10-year yield rising to 4.28%, the highest since 2014. Bond yields in New Zealand have also risen.
- Currencies were mixed in Asian trading after the Dollar Index hit a four-week high on Thursday. The yen was little changed after rising against all of its Group-of-10 peers the previous session, bolstered by Bank of Japan comments about a balanced approach to yield-curve control.
