London — World shares, oil and bond yields all pulled back after bright starts to the second half of the year on Tuesday, as a long-range missile test by North Korea and July 4 holidays for US markets restricted risk appetite. Asian shares fell and South Korea’s won hit a 16-week low after the North’s missile landed in Japanese waters, while Europe was in the red as the first fall in oil prices in nine days also pushed down commodity stocks. Traditional safety plays were working well. The Japanese yen and gold were both higher, as were European bonds, helped also as Sweden’s central bank sounded reassuringly cautious as it hinted at the end of its easing programme. That took the wind out of the Swedish crown that had been the best performing global currency over the last week. The Australian dollar also took a tumble as its central bank steered clear of rate-hike talk at its latest meeting. Credit Agricole forex strategist Manuel Oliveri said the Swedish Riksbank’s move showed how w...
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