SINGAPORE : Stocks headed for a weekly loss on Friday as the prospect of aggressive global rate hikes finally began to rattle investors, while bonds fell and the dollar looked set for its best week in a month.
Federal Reserve policymakers are ready to start cutting the central bank's asset holdings from May and are prepared to move rates higher 50-basis-points at a time to curb inflation, meeting minutes and remarks from officials showed this week. "The last two decades brought low inflation and a relatively peaceful world. Going forward geopolitical conflicts may become more and more volatile and have more of an impact on the whole world's economy."
Elsewhere long-end Treasuries have borne the brunt of this week's selling in haemorrhaging bond markets as traders see it hit hardest by the Fed cutting bond holdings.
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Oil headed for 3per cent weekly fall on emergency stocks releaseMELBOURNE : Oil prices inched up on Friday but were set to fall around 3per cent for the week after consuming countries agreed to release 240 million barrels of oil from emergency stocks to help offset disrupted Russian supply.Brent crude futures rose 13 cents, or 0.1per cent to $100.71 a barrel at 0139 G
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