Markets see just one rate cut coming in 2025 amid strong economic data and the potential for Trump's economic plans to stoke inflation.

Dreyfuss LONDON/NEW YORK (Reuters) -A sharp selloff in some of the world's biggest government bond markets and a continued rise in the dollar sent shockwaves through financial markets, with the pain seen deepening as uncertainty grows over U.

The biggest story in finance is that longer-term bond yields are rising. The yield on the 10-year Treasury, at about 4.7%, is the highest since April, even though the Federal Reserve’s overnight rate is now a percentage point lower than it was then.

U.S. stock indexes are feeling pressure from better-than-expected reports on the job market and business activity.

Global shares show mixed performance as Wall Street slumps despite strong U.S. economic data. European markets see slight gains, while Asian shares mostly decline. Investors weigh inflation and interest rate concerns.