TOKYO — Global shares mostly slipped Friday as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.
The core consumer price index, which eliminates energy and fresh food prices from the measure, rose 4.3% on year, according to the Ministry of Internal Affairs and Communications. “In terms of China, there has been very little cause for optimism due to the dire macro indicators, a plunging yuan and property developers hitting troubled waters,” said Tim Waterer, chief market analyst at KCM Trade.
If it reaches 4.34%, it will be at a level unseen since 2007, according to Tradeweb. That’s before the financial crisis and Great Recession caused yields to collapse to record lows. The 10-year Treasury was yielding less than 0.70% three years ago.Higher yields are good for bond investors, who get fatter payouts for their investments. But it hurts stock prices because investors are suddenly less inclined to pay high prices for investments that aren't as steady as bonds.
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