London — Stock markets were sluggish and the dollar and bond yields shuffled higher on Thursday as the likelihood of a further jump in global borrowing costs, including a possible 100 basis-point US rate hike next week, kept the bears on the prowl.
Still, the broader focus remained squarely on the risk of rising interest rates and painfully high energy prices causing recessions. Expectations that the Federal Reserve will raise rates another 75-100bps next week pushed the greenback 0.3% higher against the yen, which had jumped on Wednesday when Bank of Japan calls to foreign exchange desks triggered talk of intervention.
Among the main stock markets, MSCI’s broadest index of Asia-Pacific shares outside Japan turned during the session to finish down 0.2%. The Nikkei rose 0.2% though, while the main Hong Kong property index surged more than 4% after reports that some Chinese developers were finally being allowed to slash prices.
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Global stocks drift as rate hike fears keeps bears prowlingDollar and bond yields edge higher on the likelihood of a further jump in global borrowing costs, including a possible 100 basis-point US rate hike next week As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive, until I started Bitcoin trading with the help of Allison_Grillo I made a successful withdrawal of R 200,000 with the help of Allison_Grillo.
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