• Rising bond yields continued to unnerve equity investors on Wednesday, with benchmark U.S. Treasuries rising above 4.5% in Tokyo hours and their Japanese counterparts reaching levels not seen since 2011. At the heart of the move are fears that persistent inflation will keep interest rates high for a long time or even drive them higher further in the short term, with particular focus on the US Federal Reserve.
• An unexpected improvement in US consumer confidence meant the Fed could cut rates in September, helping lift Treasury yields, which in turn lifted the dollar, especially against...
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