Asian shares come off 11-month lows as Treasuries rally

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Key Points

SYDNEY (Reuters) Asian shares rebounded from 11-month lows on Thursday as a plunge in oil prices and softer U.S. labour data helped pull Treasury yields off 16-year peaks, although a looming U.S. payrolls report could make or break the rally...

Overnight, the rout in Treasuries took a breather after a cooler-than-expected U.S. private payrolls report and a 5% drop in oil prices offered some comfort to investors..

Ten-year yields eased 2 basis points to 4.7163% on Thursday, continuing their overnight retreat from a fresh 16-year high of 4.8840%...

I think those numbers will have to be a long way from those expectations for it to move the dial for the Fed, but numbers close to the expectations might serve to calm jitters in the Treasury market, said Stephen Miller, an investment strategist at GSFM, a Sydney-based fund...

Whether or not the BoJ intervened, we still judge the risk of intervention is high while USD/JPY follows U.S. Treasury yields higher, said Joseph Capurso, head of international economics at CBA...

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