Stocks dip, bonds drop as German surprise renews inflation fears

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Reuters

SINGAPORE (Reuters) – Stocks wobbled and bonds fell in Asia, while the dollar rose on Tuesday after a hot inflation reading in Germany heightened nerves about the pace and scale of looming interest rate hikes. Rising energy prices added to worry about the persistence of consumer pain. Brent crude futures touched a two-month top of $122.43 a barrel after the European Union vowed to slash imports of Russian oil by year’s end. U.S. treasuries slumped on return from Monday’s U.S. holiday, sending the yield of the 10-year bond up nearly 10 basis points (bps) to 2.8405%. [US/] German bund yields ros…

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