Overnight, surprisingly strong partial figures on the U.S. labour market sent a selloff in bond markets into overdrive and pushed the S&P 500 stock index (.SPX) 0.8% lower.
Three-year and ten-year Australian government bond yields each rose a dozen basis points on Thursday and a dozen more on Friday morning to hit decade highs.
Maybe there has to be some reassessment given the resilience of a lot of economies to higher rates so far."
Even well-anchored Japanese government bond yields rose on Friday.
Gold , which pays no income, was under pressure from higher yields while trading flat at $1,911 an ounce.
Persons:
Jack Chambers, payrolls, Goldman Sachs, HSI, Tom Westbrook, Edmund Klamann
Organizations:
Japan's Nikkei, Federal Reserve, ANZ, stoke, Private U.S, ADP, U.S, Reserve Bank, Thomson
Locations:
SINGAPORE, Asia, Pacific, Japan, Britain, Sydney, U.S, Hong Kong, South Korea, Australia