SINGAPORE/LONDON—U.S. Treasury yields held near multiyear highs on Friday, with markets seeing no let-up in tightening from the Federal Reserve, causing shares to slip and the dollar to stay strong, particularly against the embattled Japanese yen.
The benchmark U.S. 10-year yield edged up as high as 4.276 percent, its highest level since June 2008, having risen nearly 10 basis points overnight.
This dragged on shares, with Europe’s STOXX index falling 1.5 percent, U.S. S&P500 futures sliding 0.6 percent, and MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.88 percent, languishing near the two-and-a-half year intraday low it touched the day before….