aug 7 reuters  a look at the day ahead in asian markets from jamie mcgeever financial markets columnist a clutch of toptier chinese economic data secondquarter growth figures from indonesia and the philippines and an indian interest rate decision are the main events in asia this week with markets highly sensitive to rising global bond yields  the nasdaq sp 500 and msci world index last week all registered their biggest weekly losses since march and the msci asia exjapan indexs 23 fall was its biggest in six weeks driving the deterioration in risk appetite is the surge in global bond yields especially us marketbased borrowing costs as the long end of the treasury curve came under intense selling pressure the us yield curve steepened by 2030 basis points last week  the biggest steepening since march  and the steepening of the 2year30year yield curve by 30 basis points was one of the biggest weekly moves in over a decade perhaps counterintuitively from a stock market perspective at least this is partly due to the resilience of the us economy the soft landing or even no landing narrative is gathering momentum and jp morgan on friday became the latest wall street bank to remove or delay their us recession call us fiscal worries are also growing however and the bank of japan s recent yield curve control surprise has lifted japanese bond yields all else equal financial conditions are tightening and despite a strong us earnings season scorecard stocks are feeling the squeeze asias corporate earnings season picks up this week with alibaba the standout in a trickle from china and sony and softbank among a flood of big names from japan several potential marketmoving data releases and events in asia are also due as well us consumer price inflation for july economists polled by reuters expect the annual rate to rise to 33 from 30 on the economic front the main focus will be chinese trade lending producer price and consumer inflation data investors will be hoping for signs that deflationary pressures and weakness in import and export activity this year are finally abating if not the pressure on beijing to inject substantial stimulus into the economy will only intensify on its own cutting banks reserve requirement ratios will not be enough the reserve bank of india meanwhile is expected to keep its benchmark repo rate on hold at 650 on thursday and hold it there through march 2024 mondays calendar in asia is fairly light with indonesian q2 gdp and thai inflation for july the main releases indonesias economy is expected to have grown 372 in q2 rebounding from a 092 contraction in q1 but slow slightly on an annual basis here are key developments that could provide more direction to markets on monday  indonesia gdp q2  thailand cpi inflation july  china fx reserves july