(Bloomberg) -- New Zealand bonds tumbled, sending benchmark yields to the highest since November 2018, as Asian markets braced for the fallout from Federal Reserve Chairman Jerome Powell’s latest hawkish pivot. 

The yield on 10-year notes jumped nine basis points to 2.70% as trading started, after similar-dated Treasuries traded 10 basis points higher at 1.87%. 

Read More: Powell Backs March Liftoff, Won’t Rule Out Hike Every Meeting

©2022 Bloomberg L.P.