New York — Stocks on world markets rose to record highs on upbeat corporate earnings Thursday, while US Treasury yields and the dollar climbed, as investors assessed the Federal Reserve’s recent statement that it is closer to paring its balance sheet. MSCI’s 47-country All World share index was at a record peak, while US stocks hit all-time highs as well. Asian stocks had jumped to their highest in almost a decade. The US central bank said on Wednesday it expected to start winding down its massive holdings of bonds "relatively soon," despite striking a cautious tone on low inflation. Many analysts and traders expect the Fed to announce its balance sheet reduction plans when its policymakers meet in September. Results from Facebook and Verizon helped boost U.S. stocks. With equity markets at record levels, investors have been counting on robust company earnings to justify relatively expensive stock valuations. Shares of Facebook were up 4.6% in US midday trading, while Verizon was up...
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