Emerging markets: Philippines stocks recover from early losses on Covid-19 curbs; Asian bond yields elevated

MANILA Feb 23 (Reuters):Most Asian equities rose while bond yields remained elevated, as investors awaited US Federal Reserve Chairman Jerome Powell's Congressional testimony later for clues into the central bank's thinking on inflation expectations and rising yields.

Yields on benchmark 10-year bonds in the region stood at multi-month highs as investors recently sold Asian bonds after a jump in U.S. Treasury yields. A recent rally in Asian equities has been capped by rising bond yields.