Premarket: World stocks wilt, yields firm on re-pricing ‘high-for-long’ Fed rates

News Snapshot:

Global shares wilted and U.S. yields climbed multi-year highs on Friday after a week packed with central bank meetings signalled that the U.S. Federal Reserve’s interest rates would stay higher for longer. The yen traded at 148.31 to the U.S. dollar, after falling sharply earlier in the day following the Bank of Japan’s decision to hold interest rates in negative territory, suggesting it was in no rush to phase out its massive stimulus program. The dollar, up 0.2%, was headed for its 10th consecutive weekly increase, lifted by a fall in the euro on grim euro-zone economic data. Oil prices...