Hong Kong’s Hang Seng lost 1.3% to 17,819.52, while the Shanghai Composite index declined 0.3% to 3,121.78.In Seoul, the Kospi lost 0.6% to 2,492.15, while Australia’s S&P/ASX 200 shed 0.3% to 7,048.00.
High rates drag down inflation by intentionally slowing the economy and denting prices for investments. They also are slow to take full effect and can cause damage in unexpected, far-ranging corners of the economy. Earlier this year, high rates helped lead to three high-profile collapses of U.S. banks.at the month’s end that would disrupt many services, squeeze workers and roil politics.
The two-year Treasury yield, which moves more closely with expectations for the Fed, dipped to 5.10% from 5.15%.
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