Futures signalled shares will open down in Japan and Hong Kong, while Australian equities started the session flat.

Futures on US stocks edged down after a weak session on the S&P 500 Index, with a fall in oil prices weighing on energy producers.

Australia’s 10-year yield plumbed a fresh all-time low, the yield on 10-year Treasuries dropped to the lowest since Dec 2017, and rates on benchmark German Bunds sank further below zero after European Central Bank President Mario Draghi said an accommodative stance is still needed.

The pound retreated as a UK Parliament vote showed no majority for any Brexit options.

Traders are snapping up bonds amid a return to low long-term rates around the world as investors fret that the slowing global expansion is deteriorating further despite signs of support from central banks.

Recent data showed weakness from US housing to retail sales and consumer sentiment, prompting a more dovish tone from the Federal Reserve.

A closely watched segment of the yield curve inverted last week – a gauge that’s served as a recession warning. Fed funds futures are now pricing in more than a quarter point of easing by the end of 2019.

“The performance of risk depends ultimately on what growth is,” Binky Chadha, Deutsche Bank AG’s chief global strategist, said on Bloomberg TV. “The current message from the last three weeks is easier monetary policies spook the markets about growth.”