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A preview of the upcoming day in Asian markets reveals a shift in investor sentiment as concerns over rising U.S. bond yields and a stronger dollar overshadow optimism about a soft landing for the U.S. economy. The spike in yields and the dollar is fueled by worries about U.S. spending and deficits, as well as the upcoming election. Meanwhile, uncertainty remains regarding China’s economic outlook and the effectiveness of Beijing’s support measures, contributing to a cautious outlook among Asian investors.

Asian Stocks have seen declines in five out of the last six sessions, with U.S. bond yields exceeding 4.20% and the dollar reaching a three-month high against the yen. Despite the weaker yen, Japanese equities have not seen much support, as domestic investors are moving cash overseas.

Key events on Wednesday include Inflation data from Singapore and industrial production figures from Taiwan. Additionally, policymakers like ECB President Christine Lagarde, BOE Governor Andrew Bailey, BOJ Governor Kazuo Ueda, and RBNZ Governor Adrian Orr are expected to make announcements in Washington.

The IMF recently revised its GDP forecasts for China and Japan, with Japan experiencing the largest downgrade among major economies. As markets await further direction, developments like the BRICS summit in Russia and the IMF and World Bank meetings in Washington could influence investor sentiment.

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