Morning Bid: Reality bites

Feb 27 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. A wave of selling is likely to crash over Asian markets on Monday following a sobering end to the week on Wall Street, as the reality of ‘higher for longer’ U.S. interest rates finally dawns on investors. Consumer spending, labor market and business activity data suggest the U.S. economy is in much better shape than many had thought, and the coup de grace last week came in the form of unexpectedly strong inflation figures. The implied peak Fed rate is approaching 5.50% – does…