Asian bond rates and the UST 10 year: higher funding costs but Japan remains stuck

As US Treasury 10 year notes passed 3% for the first time since 2013, Asian markets reacted accordingly: equity prices fell and short-term funding costs jumped. Asia remains a big, diverse place however, and saying that “Asia fell” is too broad a generalization. Here are recent Asian market reactions to rising UST 10 year rates.
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