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Asian stocks looked set to follow a selloff on Wall Street, with bond yields rising as traders comb through remarks from a slew of Federal Reserve officials and await Jerome Powell's speech for clues on the interest-rate outlook. Equity futures for Japan, Hong Kong, and Australia pointed to declines after the S&P 500 almost wiped out its weekly advance. Treasury two-year yields, which are more sensitive to imminent policy moves, climbed above 5%. Powell is scheduled to deliver his speech at 10:05 a.m. Washington time today.
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