By Tom Westbrook SINGAPORE - Stocks and bonds were under pressure on Friday as investors hunkered down for U.S.
Japan's Nikkei had been 0.9% lower at the end of morning trade. MSCI's broadest index of Asia-Pacific shares outside Japan touched a 10-month low before recovering to flat thanks to gains in Hong Kong. The S&P 500 had dropped 1.6% overnight and is down 2.7% in a week when policymakers were at pains to sound hawkish, even if a peak in rates is near.
Central banks in Sweden and Norway announced 25 basis-point hikes with the prospect of more to come and the Swiss National Bank surprised investors with a hold on rates, sending the franc down about 0.7% on the dollar and 0.6% on the euro.
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