Stocks, bond prices on slippery slope

BUSY 24 HOURS FOR CENTRAL BANKS

- ANKUR BANERJEE & ALUN JOHN

Stocks around the world fell on Thursday, while the 10-year US Treasury yield rose to its highest since May, a day after the Federal Reserve said it would temper the pace of rate cuts, kicking off a busy 24 hours for other central banks.

The Bank of Japan took up the market-moving baton on Thursday, keeping rates steady as expected while in Europe, Sweden's central bank cut rates by 25 basis points and Norway's kept its rates on hold, both as expected. Europe's STOXX 600 share index declined more than 1%, while Asian stocks fell 0.5%, spooked by the prospect of fewer US rate cuts.