In Asian Equity Markets stocks fell with regional stock indexes trading moderately lower amid declines in the technology sector. The Nikkei 225 slipped 0.25 percent as semiconductor companies traded lower while financials and utilities mostly rose. South Korea’s benchmark Kospi index edged down by 0.34 percent and Australia’s S&P/ASX 200 was lower by 0.21 percent. Semiconductors traded lower after Taiwan Semiconductor Manufacturing, the largest contract chip-maker in the world, said Thursday it was forecasting second-quarter revenue to come in between $7.8 billion and $7.9 billion, below analysts estimate of $8.8 billion. TSMC fell 5.93 percent, dragging Taiwan’s Taiex lower by 1.68 percent.

In Currency Markets the British pound flirted with two-week lows against the dollar on Friday following comments from the Bank of England chief and soft UK retail sales data, while the yen eased as risk sentiment was on the mend. Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May on Thursday, pointing out there were also “other meetings” this year. The British pound fell to a two-week low of $1.4069 on Thursday and last stood at $1.4074. Against the euro, it hit a three-week low of 0.87725 pound per euro and last stood at 0.8765. The euro was little changed against the dollar at $1.2338.

In Commodities Markets oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts as well as strong demand gradually draw down excess supplies. Brent crude oil futures were at $73.79 per barrel, up 1 cent from their last close. U.S. West Texas Intermediate (WTI) crude futures down 2 cents at $68.40 a barrel. Both Brent and WTI hit their highest levels since November 2014 on Thursday, at $74.75 and $69.56 per barrel respectively. WTI is set for its second weekly gain, gaining 1.3 percent this week, while Brent is also poised to rise for a second week, adding 1.6 percent this week.

In US Equity Markets stocks fell on Thursday, as technology stocks from Apple to chip-makers declined following a weak forecast on smartphone demand, while a sharp decline in Philip Morris’s shares after results weighed on the consumer staples sector. The S&P 500 fell 0.79 percent to 2,687.12 and the Nasdaq Composite dropped 0.87 percent to 7,231.51. The S&P consumer staples sector declined 3.5 percent as Philip Morris declined 16.5 percent after the tobacco company’s weak results and forecast. The only bright spot was the financial sector, which was up 1.2 percent, supported by American Express shares and a rise in 10-year Treasury yields to a near two-month high.

In Bond Markets yields on longer-dated maturities climbed modestly higher on Thursday after two weeks of rising less than shorter-dated bonds, retracing some of the yield curve’s flattening. A flattening yield curve suggests the market believes the Federal Reserve will continue to raise rates even if there is skepticism about U.S. growth and inflation, which has remained stubbornly low. Increased supply of government debt is also expected to tamp down Treasury prices. The 10-year Treasury yield was up 5 basis points from its last close, to 2.917 percent. The 30-year Treasury yield was up 6.3 basis points from its last close, at 3.109 percent.