Week InReview: August 18, 2023

Selloff continues.

Shares in Asia were poised to drop as investor concern that monetary policy makers may not be done raising interest rates fueled a further selloff in US stocks and bonds. Equity futures for benchmarks in Japan, Australia, and Hong Kong all declined. The 10-year Treasury yield rose as high as 4.33%, within a few basis points of its 2022 highs. Investors will soon be turning to next week's gathering of policymakers at Jackson Hole in Wyoming to gauge Fed sentiment.

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