Asian stocks edged lower on Tuesday as the prospect of the U.S. central bank having to stay on its hawkish path weighed on sentiment, with investors looking to the minutes of the latest Federal Reserve meeting for further monetary policy clues.
"The backdrop of inflation concerns in the U.S. is still keeping risks of a tighter than expected monetary policy, and yields remain a key focus as U.S. markets return later today," strategists at Saxo Markets said.The yield on 10-year Treasury notes was up 3.5 basis points to 3.863%, after touching a three-month high of 3.929% on Friday.
Investor focus is firmly on the release on Wednesday of the minutes of the Fed's latest meeting when it raised interest rates by 25 basis points.
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