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LONDON—Stocks sagged and bond yields firmed on Thursday as looming central bank rate meetings cast a shadow over largely resilient corporate earnings so far which have failed to dispel downbeat investor sentiment.
The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. Investors braced for intervention as the Japanese currency fell below 150 for the first time since 1990.
U.S. 10-year Treasury yields touched a 14-year high, while 2-year German government bond yields rose to their highest since December 2008.
“There is a concern the economy over the course of the next 12 months are going to be extraordinarily difficult, with the mood slightly pessimistic when it comes to corporate earnings,” said Mike Hewson, chief markets analyst at CMC Markets....