LONDON—Borrowing costs in government bond markets rose and share markets stalled on Thursday after a surprise interest rate hike in Canada gave investors their second reminder of the week that the surge in global interest rates isn’t done yet.
Asian markets had struggled overnight and the cautious mood continued in Europe as London’s FTSE, Germany’s DAX and the France’s CAC40 gradually crawled higher after starting off in the red.
Traders were being driven by a broad repricing going on in the bond markets of when and where interest rates in the world’s biggest economies are likely to max out….