In Asian Equity Markets stocks fell on Friday, after red-hot U.S. inflation data and hawkish comments from a Federal Reserve official fuelled bets on U.S. interest rates being hiked more aggressively and sent U.S. Treasury yields jumping. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.76 percent, with most markets in the red, though a resurgence in property stocks helped greater China markets. Japanese markets were closed for a holiday. An index tracking Hong Kong listed mainland property firms rose 2 percent and one tracking onshore Chinese real estate gained 1 percent.

In Currency Markets the dollar was up on Friday morning in Asia, with higher-than-expected U.S. inflation data and hawkish comments from a Federal Reserve policymaker accelerating expectations of aggressive interest rate hikes. However, similar pressures globally capped gains. The U.S. Dollar Index that tracks the greenback against a basket of other currencies was up 0.32 percent to 95.852. Against the Japanese yen, the dollar inched up 0.06 percent to 116.08. The Aussie dollar was down 0.27 percent to 0.7146 and the kiwi was down 0.22 percent to 0.6654.

In US Equity Markets stocks ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation. The Dow fell 1.47 percent to end at 35,241.59 points, while the S&P 500 lost 1.81 percent to 4,504.06. The Nasdaq Composite fell 2.1 percent to 14,185.64. Walt Disney Co rose 3.4 percent after beating revenue and profit estimates on strong subscriber additions and attendance at U.S. theme parks.

In Commodities Markets oil prices were steady on Thursday as markets weighed the possibility of an aggressive and unforecast rate hike for a steeper rise in energy demand. After rising more than 1 percent in early trade, Brent crude futures settled down 0.2 percent, at $91.41 a barrel. U.S. Texas Intermediate crude settled up 0.3 perent to $89.88 a barrel. Spot gold prices fell as much as 0.6 percent after hotter-than-expected U.S. inflation data supported the case for aggressive rate hikes, but recouped losses to trade 0.2 percent higher at $1,835.71 per ounce.

In European Equity Markets stocks ended slightly lower on Thursday as rising bond yields and weak results from France’s Atos dampened the tech sector, although positive Linde and Siemens earnings along with improving trends for travel stocks helped limit broader losses. The pan-European STOXX 600 index closed 0.2 percent lower, with the heavyweight technology sector among the top drags. European healthcare stocks were flat. Credit Suisse fell 6.6 percent after warning of weak 2022 earnings as it ended last year with a quarterly loss of $2.2 billion.

In Bond Markets U.S. 10-year Treasury yields rose on Thursday, with the benchmark 10-year U.S. Treasury yield touching 2 percent for the first time since August 2019 after a reading on inflation was higher than forecast and cemented expectations the Federal Reserve will take steps to combat rising prices. The yield on 10-year Treasury notes was up 6.7 basis points to 1.995 percent after hitting a high of 2 percent, the first time it had reached that level since August 1, 2019. The yield on the 30-year Treasury bond was up 5.1 basis points to 2.283 percent.