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Stocks shrug off rates risk as U.S. consumers spend

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Bonds fell and the dollar rose on Thursday as roaring U.S. retail sales had investors reckoning on interest rates staying higher for longer to temper demand, though stock markets were focused on the bright side for earnings and climbed a little.

Elsewhere the repricing of the interest rates outlook is putting an end to a couple months of selling of the dollar in currency markets.

The dollar made a six-week high of 134.36 yen on Wednesday and hovered at 133.99 early on Thursday. It is also testing resistance near $1.0656 per euro and was last at $1.0669.

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