US treasury yields slip, dragging dollar away from 13-and-a-half-year peak
Tokyo — US Treasury yields eased in Asian trade on Thursday as a week-long surge that followed Donald Trump’s shock election win subsided further, helping Asian stocks gain and dragging the dollar off a more than 13-and-a-half-year peak set overnight. Japanese government bond (JGB) yields also pulled back from multi-month highs after the Bank of Japan (BoJ) conducted a special fixed-rate bond buying operation for the first time, firing a warning shot against excessive yield moves. The dollar index, which measures the greenback’s strength against a basket of major currencies, stood at 100.270 after climbing to 100.570 overnight, its highest since April 2003. The dollar has soared since Trump was elected president last week, as investors eyed the prospect of US interest rates rising faster than previously expected due to his plans for an expansionary fiscal policy that would stoke inflation. But the rout in US bond prices began to slow, with the benchmark 10-year treasury note yield p...
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