Stocks in Europe declined after a down session in Asia, where technology shares came under earnings-related pressure and materials shares fell. U.S. Treasury yields steadied after the biggest weekly surge since February.
The Stoxx Europe 600 gauge dropped along with U.S. equity-index futures. In Asia earlier, stocks in China underperformed with those in Hong Kong and Korea, while shares in Tokyo fluctuated.
Treasury yields held above 2.9 percent as bonds from the U.K. to Germany pared losses.
The dollar extended this week’s advance and sterling slipped on reported disagreements in Brexit negotiations on the Irish border and after Bank of England Governor Mark Carney hinted a rate hike next month wasn’t a done deal.
While investors debate the cause of the decline in sovereign debt, bond market gauges showed an increase in expectations for U.S. inflation after recent torrid gains in metals from aluminum to nickel.
Trade remains in focus with the U.S. Treasury Department considering using an emergency law to curb Chinese investments in sensitive technologies.
Source: Bloomberg Pro terminal
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