Asian shares edge up, treasuries rise on weak US jobs data

Economic Indicators - The yield on the 10-year Treasury fell four basis points to 4.08% as private data became crucial due to the federal government's shutdown, which may end soon after the Senate passed a temporary funding bill [1][10] - The ADP report indicated that private-sector payrolls increased by 42,000 in October, following declines in the previous two months, suggesting a slowdown in the labor market during the second half of October [3][11] - A report from Challenger, Gray & Christmas Inc. highlighted that employers announced the most job cuts for any October in over two decades, raising concerns about the labor market's health [6][11] Market Reactions - The reopening of the government is seen as a potential catalyst for supporting current-quarter GDP forecasts and increasing market liquidity, which is typically favorable for stocks [2][10] - The tech-heavy Nasdaq 100 closed lower, with Nvidia Corp. dropping 3% after SoftBank Group sold its entire stake in the company to fund AI investments, leading to a 10% decline in SoftBank's stock in Tokyo [7][11] - Money markets are pricing in a roughly 70% chance of a Federal Reserve rate cut next month, influenced by the cooling jobs market [10][11] Legislative Developments - The House of Representatives is expected to consider a spending package that would keep most of the government open through January 30 and some agencies through September 30 [7][11] - If the bill is approved, it will go to President Trump, who has endorsed the legislation, potentially leading to the quick release of delayed economic data, including the September jobs report [8][9][11]