Higher-for-longer rate bets lift dollar, sap stocks

Higher-for-longer rate bets lift dollar, sap stocks

Higher-for-longer rate bets lift dollar, sap stocksWORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>MARKETS>Equities>Higher-for-longer rate b...PHOTOLONDON - World stocks slid for a third straight day on Thursday with Europe facing its worst run in five years, as new signs of sustained inflationary pressures and rising energy prices boosted the case for higher-for-longer interest rates.The U.S. dollar was loitering close to its highest point since March against major peers, and touched a fresh 10-month top versus the Japanese yen, the traditional global funding currency where interest rates remain ultra-low.Blistering-hot Institute for Supply Management (ISM) figures on Wednesday, at their strongest level since February, bolstered bets that the Federal Reserve could lift interest rates again before the end of the year.Long-term Treasury yields hovered at a two-week high of nearly 4.28% and close to last month's post-financial