Rate jitters wear down wary markets
Investor nerves remain frayed over the prospect of interest rates staying higher for longer, with a surge in U.S. Treasury yields pulling the dollar to a 10-month peak and driving Asian currencies, the pound and the euro to their lowest in months. Resilient economic data, hawkish Federal Reserve rhetoric, and a budget deficit that will require increased borrowing have all combined to push the 10-year yield up more than 40 basis points this month. Asian markets were under pressure as the day progressed, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding to its lowest...
Source: yahoo.com
