Stocks and bonds reel under stagflation threat

Published by
Reuters

By Sujata Rao LONDON (Reuters) – A selloff in global stocks extended into Tuesday on signs that soaring energy prices have put a dampener on economic growth, while inflation and policy-tightening fears sent short-dated U.S. Treasury yields to 18-month highs. Oil prices rose further, with Brent crude at almost $84 a barrel. Coal has scaled record peaks and, while gas prices are off recent highs, they remain four times higher in Europe than at the start of the year. The impact of supply crunches in power and manufacturing components is showing up in data — on Tuesday, figures showed Japanese wh…

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