Stocks shrug off rates risk as U.S. consumers spend

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – Bonds fell and the dollar rose on Thursday as roaring U.S. retail sales had investors reckoning on interest rates staying higher for longer to temper demand, though stock markets were focused on the bright side for earnings and climbed a little. The S&P 500 rose 0.3% overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6% in early trade. Japan’s Nikkei rose 0.6%. [.N] The greenback stood near six-week highs against the yen, yuan and kiwi. Benchmark 10-year Treasury yields, which rise when bond prices fall, hit their highest since e…

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