Asian Markets Slide as Bond Yields and Middle East Tensions Keep Investors Cautious

Asian equities moved lower on Friday as investors dealt with volatility in global bond and currency markets. The US 10-year Treasury yield briefly reached 5.34%, its highest level since 2002, before easing to around 5.25%. Investors are also awaiting key US employment data for clues about the direction of monetary policy.

Oil prices remain elevated as the US-Iran conflict continues to affect energy markets. Brent crude was holding above $102 a barrel, while WTI was around $92.84. Although oil tanker movements through the Strait of Hormuz have improved, military tensions and uncertainty around diplomacy continue to influence shipping and energy costs.