New Zealand 10-year bond yields close near 6-week high after U.S. benchmark Note approaches 3 pct; Asian stocks struggle to perform                             

New Zealand 10-year government bond yields close Tuesday’s session at near 6-week high, after the United States’ benchmark counterpart, was seen approaching 3 percent, with yields up since January 2014 as Asian stocks struggled to overcome the market dip ahead of an array of earnings from the world’s largest corporations.

The yield on New Zealand’s benchmark 10-year Treasury note, which moves inversely to its price, jumped 5 basis points to 2.93 percent, the yield on the long-term 20-year note surged 4 basis points to 3.51 percent and the yield on short-term 2-year closed 1/2 basis point higher at 1.97 percent.

Asian stocks eagerly await to assess the trade discussions and any new developments emerging out of that amid the prevailing geopolitical discussions amid strength in the U.S. dollar and sluggishness in debt prices.

Amid trade discussions being held at Washington, the tiff between the U.S. and China over trade tariffs and piling levels of debt, remain threats to the global growth outlook. The United States Treasury Secretary Steve Mnuchin said that he is "cautiously optimistic" on reaching an agreement that will bridge the gap between the world’s two largest economies.

However, President Donald Trump has signaled that that tensions over the Korean Peninsula and North Korean leader Kim-Jong-Un might not end so soon, again injecting doubts and worries which might reverse the price flow in the debt market.

Meanwhile, the NZX 50 index closed 0.24 percent lower at 8,303.62, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained highly bearish at -131.37 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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