Bernanke Recouples With World Offering Bond Yield Relief

Federal Reserve Chairman Ben S. Bernanke is granting his international counterparts some relief from the tighter borrowing costs he forced on them this year.

Four months of rising bond yields around the world and reduced capital flows into emerging markets were thrown into reverse by the Fed’s surprise decision yesterday not to pare its $85 billion in monthly asset buying. Yields on the bonds of Spain, France, Thailand and Turkey were among those to fall in response, and currencies including those of India and Malaysia rose against the dollar.