World stocks and bonds slump over global rates angst

Asian stocks are a sea of red and bonds have slid on bets global interest rates would stay higher for longer, as investors looked to key inflation readings at the end of the week for further clues on the future path of monetary policy. The dollar rode US Treasury yields higher while gold remained under pressure on renewed expectations that the Federal Reserve is unlikely to cut rates any time soon. The latest halt in the global risk rally on Thursday has come on the back of data pointing to lingering inflationary pressures across major economies. “Hotter and stickier than…