Dollar, bond yields jolted higher by Fed rate risk

Mar 20, 2014, 1:49 AM EDT
This picture taken on September 24, 2013 shows US dollar notes being counted next to stacks of 100 yuan (RMB) bank notes at a bank in Huaibei, in eastern China's Anhui province. With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar.
STR/AFP/Getty Images

The U.S. dollar was hanging onto hefty gains in Asia on Thursday as investors wrestled with the risk that U.S. interest rates could rise sooner and faster than previously thought, slugging stock and bond prices. Short-term U.S. bond yields jumped by the most in almost three years after Federal Reserve Chair Janet Yellen said the central bank might end its bond-buying program this fall, and could start to raise interest rates around six months later.
Dollar, bond yields jolted higher by Fed rate risk [Reuters]
Asia stocks drop on Fed; H-Share index near bear market [Bloomberg]