Global stocks eased on Wednesday in the face of rising bond yields, as investors assessed how much U.S. rates might fall this year, while a powerful earthquake in Taiwan raised concerns about possible disruptions to the vital chip-making industry. A string of robust U.S. data, coupled with a rise in the oil price to its highest in five months, prompted traders to lower their expectations for three interest-rate cuts from the Federal Reserve this year.
Government bonds were sold heavily, pushing yields on the benchmark 10-year U.S. Treasury note to five-month highs, while equities stepped back from record peaks. The MSCI All-World index fell 0.1 per cent in its third consecutive daily drop, while European equities traded modestly in negative territory. U.S. futures fell 0.2-0.3 per cent ahead of an appearance from Federal Reserve Chair Jerome Powell and U.S. services and jobs figures later o
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