Asian stocks and bonds fell after a surge in oil prices sparked a selloff in US markets, while the latest inflation data reinforced bets on an imminent Federal Reserve interest-rate hike.
The MSCI Asia Pacific Index fell 1.3%, led by losses in Japan and South Korea, after the S&P 500 Index slipped 0.5%. Brent crude rose 0.7% after climbing to almost $110 a barrel in US trading, pushing Treasury yields to multiyear highs. Bonds came under further pressure after the Treasury bought back fewer seccurities than investors had anticipated. Faster-than-expected producer-price data also prompted traders to boost bets on a Fed hike next week.
