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Bonds stung, dollar cheered by sudden hawkish turn at Fed

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Reuters

By Wayne Cole SYDNEY (Reuters) – Asian markets looked set for a rough ride on Thursday after the U.S. Federal Reserve stunned investors by signalling it might raise interest rates at a much faster pace than assumed, sending yields and the dollar sharply higher. The dollar boasted its strongest single day gain in 15 months as 10-year U.S. Treasury yields jumped by the most since early March. The initial fallout in equities was not as bad with S&P 500 futures down just 0.2% in early Asian trade, while Nasdaq futures were off 0.3%. Nikkei futures were also down a modest 0.3%. Emerging markets mig…

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