Global Markets React to Bond Rout and China Woes, Boosting the Dollar

Global shares remain near two-month lows as bond investors anticipate higher interest rates, pushing U.S. yields to near 16-year highs. Wall Street is expected to open weaker, with little economic data to digest. The U.S. dollar is set for its fifth consecutive week of gains, supported by the prospect of high or rising interest rates and as a safe haven amid growing risks in China. Crude oil is set to end a seven-week winning streak due to concerns over China's slowing economic growth. Bitcoin hits a two-month low.