Any hopes slowing economic growth would reduce rate hikes have now been crushed
Robust labour markets have provided central banks with a window to continue to tighten policy aggressively in the coming months. Picture: PA
It has been a rough few weeks on financial markets.
Both the S&P 500 index in the US and Euro STOXX 50 are down by close to 10% since mid-August. Ten-year US Treasury yields have risen from 2.6% to 3.25% since the start of August, with 10-year German bond yields climbing from 0.7% to 1.5%, and yields on 10-year UK Gilts soaring from 1.75% to 2.9%.
