The dollar stood atop three-months highs against the yen on Friday after enhanced prospects of a near-term U.S. interest rate hike prompted a surge in Treasury yields, which also felt a strong pull from a jump in their British and euro zone peers. Asian stocks made a subdued start, with MSCI's broadest index of Asia-Pacific shares outside Japan edging down 0.l percent, reflecting Wall Street's unconvincing performance overnight.
Oct 27 A wave of caution hit emerging markets on Thursday, as rating downgrade fears stalked South Africa and a tumble in oil prices below $50 a barrel weighed on Russia's rouble and other crude producer currencies. EM stocks slid too, with a second day of falls threatening to take the 23-country MSCI EM index into negative territory for the month as the prospect of higher U.S. interest rates and dollar bubbled in the background.
U.S. stock indexes are lower Thursday afternoon as consumer companies and industrial companies fall. Bond yields are climbing to their highest levels since May. That's helping send bank stocks higher, since they'll earn more from lending as interest rates rise.
U.S. stocks are edging higher Thursday morning as health care companies rise following strong earnings for companies including drugmaker Bristol-Myers Squibb. Real estate companies continue to fall, and banks move higher as bond yields surge.
Sri Kumar is president of Sri-Kumar Global Strategies. He previously worked at Trust Company of the West from 1990 to 2012, serving for the last several years as the firm's Chief Global Strategist, and is a senior fellow at the Milken Institute.
It doesn't seem like much to ask for-a 5 percent return. But the odds of making even that on traditional investments in the next 10 years are slim, according to a new report from investment advisory firm Research Affiliates.