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Dollar’s Ascent Weighs on Emerging-Market Assets as Copper Soars

  • Bund futures swing on prospect ECB could delay QE decision
  • Asian stock-index futures tip gains after EM equity slump
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Have Rising Bond Yields Gone Too Far, Too Fast?

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The dollar’s surge reverberated across emerging markets as the case for a succession of U.S. interest-rate hikes strengthened.

Shares in developing nations extended their November slide as benchmark gauges from Brazil to Indonesia retreated. Turkey’s lira and India’s rupee touched record lows versus the greenback, while the Philippine peso dropped to its weakest level since the global financial crisis. German bund futures pared gains with the European Central Bank said to have room to delay some decisions on the future of its stimulus program. Contracts on the S&P 500 Index advanced, with U.S. markets closed for the Thanksgiving holiday. Copper jumped, on track for its best month in a decade, as gold extended losses.