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Global Markets: Dollar hits five-month high, political risk jolts Italian markets

Reuters  |  NEW YORK 

By Lewis KrauskopfNEW YORK (Reuters) - Italy's borrowing costs jumped on Wednesday and the country's stocks slid after reports that the two parties seeking to form Italy's next government might seek debt forgiveness, while the U.S. dollar rallied further to a five-month high.Wall Street's main stock indexes gained, with the Russell 2000 small-cap benchmark hitting an intraday record high.Investors were digesting Tuesday's surge in U.S. bond yields on the heels of a retail sales report that fueled the dollar and hurt stocks.The benchmark 10-year yield held well above 3 percent after bursting ...

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First Published: Wed, May 16 2018. 23:32 IST