Asian stocks slip as investors eye central bank hikes

Asian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data.

Despite Monday's declines, the S&P 500 remained on track to post its biggest January gain since 2019.

Markets will also grapple with a flood of U.S. economic data, culminating in Friday's payrolls report for January. Investors see signs of weakening in the labour market as a key factor in bringing down high inflation. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.2402% compared with a U.S. close of 4.261%.

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