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Asian shares drop as bond yields rise ahead of Fed

Published by
Reuters

By Scott Murdoch MELBOURNE (Reuters) – Asia’s share markets turned negative on Tuesday as two-year U.S. Treasury yields topped 1% for the first time in almost two years with investors weighing the risks of a Fed policy rate rise as soon as March. Early European markets on Tuesday were also slightly weaker. However, oil prices rose to their highest level in more than seven years over concerns about supply shocks after Yemen’s Houthi group attacked the United Arab Emirates. MSCI’s broadest index of Asia-Pacific shares outside Japan edged higher earlier in the session as much as 0.4%, before turn…

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