Core inflation slowed to 1.4% in April from 1.8% in March, its lowest level in four years and below the Bank of Japan’s 2% target for a third consecutive month.

Across the Pacific, US Treasury markets showed greater stability. The 10-year Treasury yield held around 4.57% after two consecutive sessions of declines, as mixed signals from US-Iran negotiations left the outlook for inflation and interest rates less clear.

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