Asian stocks and bonds are anticipated to fall following a surge in oil prices that triggered a selloff in US markets. Concurrently, recent inflation data has solidified expectations for an upcoming Federal Reserve rate hike.
Brent crude oil climbed above $107 a barrel on Thursday, leading Treasury yields to reach multi-year highs and boosting the dollar to a one-week peak. Bonds faced additional pressure after the Treasury repurchased $5.19 billion of debt, an amount lower than investors had expected.
A hotter-than-anticipated producer-price report further prompted traders to increase their bets on a Fed rate hike occurring next week.
