Bonds Rise as Oil Extends Slide on US-Iran Talks - Asia Market Wrap

Asian bonds and Treasury futures advanced as oil extended its decline following signs of diplomatic progress between the US and Iran. Australian and New Zealand government bonds rallied, while the US 10-year yield remained near 4.93% after falling alongside crude. Brent slipped around 1.2% toward $98 a barrel, extending its longest losing streak in a year. Trump said US officials held a “very good” three-hour meeting with Iranian representatives in New York, with further talks expected soon. Stocks edged higher, with Asian equities gaining 0.1% after chipmakers helped push the Nasdaq 100 to another record. European futures rose around 0.4%, while US equity futures pointed to more modest gains. The Dollar gained 0.1% for a fourth straight advance. Investors are also watching Fed commentary for clues on rates after officials continued to warn that inflation remains too high and could require further tightening. Gold slipped 0.4% to around $4,345 an ounce, while Bitcoin rose more than 1% to about $87,200. Attention is also turning to the Trump-Xi summit this week, where trade, Taiwan, AI and other economic issues are expected to feature.