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US yields remain elevated, set for the biggest weekly jump since early October, while European bond futures signal fresh declines after they sold off following a less dovish than expected ECB. Bonds slid even with European central banks lowering rates to shield economies against potential disruption from Donald Trump's second term.
Chinese shares slumped as authorities left investors guessing on the specifics of a fiscal stimulus plan. The benchmark index snapped a two-week winning streak while bond yields plumb record lows on the promise of easier monetary policy.
Pimco and Fidelity are among investors who say the darkening economic outlook in Europe may force policymakers to cut interest rates more than the market expects.
Stocks tumble across Asia amid a lack of details about stimulus from a key policy meeting in Beijing. Bonds were happier, with China's 10-year yield hitting a record low. South Korean stocks buck the trend as the country's opposition filed a second impeachment motion against President Yoon.
Treasuries fell, and the yield curve steepened after data showed US wholesale inflation unexpectedly accelerated in November and applications for unemployment benefits rose last week. Demand for a 30-year auction was weak, and the dollar rose for a fifth session.
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