(Bloomberg) -- U.S. stocks were mixed while the selloff in global bonds deepened, with the benchmark Treasury yield hitting a one-year high and debt from the U.K. to Australia coming under pressure.Losses for tech shares were blunted by gains for financial companies as investors rotate away from pandemic-era winners to smaller companies poised to benefit from an end to lockdowns. Stocks popular with the day-trader crowd surged once again, with GameStop Corp. and AMC Entertainment Inc. both advancing. European shares edged higher.Across markets, investors are betting on a sunnier outlook for the global economy, with U.S. jobless claims data the latest to support that idea. But they’re also staring down the risk that accelerating inflation is just around the corner and trying to gauge what that might mean for markets.“Interest rates are rising for good reasons right now and it’s because markets and the bond market are expecting us to return to good growth,” said Chris Gaffney, president of world markets at TIAA Bank. “The problem comes in when interest rates start rising for bad reasons -- and a bad reason would be that they expect inflation to start getting out of hand.”In remarks this week, Federal Reserve Chairman Jerome Powell offered reassurance that policy would continue to be supportive and look beyond a temporary pick-up in inflation, especially from a low base.That’s given the bond market enough reason to keep driving yields higher. The 10-year U.S. yield adjusted for inflation rose to its highest level in more than seven months, a warning sign for riskier assets that have benefited from exceptionally loose financial conditions amid the pandemic.Read more: Soaring U.S. Yields Send Risk Assets Warning as Real Rates RiseNominal yields also soared, with the rate on the 10-year U.S. benchmark adding as much as nine basis points to 1.47%, the highest level in a year.Elsewhere in markets, Asian bourses closed broadly higher. Bitcoin traded above $50,000.Some key events to watch this week:Finance ministers and central bankers from the Group of 20 will meet virtually Friday. U.S. Treasury Secretary Janet Yellen will be among the attendees.These are some of the main moves in markets:StocksThe S&P 500 Index was little changed as of 9:38 a.m. New York time.The Stoxx Europe 600 Index added 0.2%.The MSCI Asia Pacific Index surged 1.3%.The MSCI Emerging Market Index added 1.3%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro climbed 0.4% to $1.2218.The British pound was little changed at $1.4144.The Japanese yen weakened 0.3% to 106.17 per dollar.BondsThe yield on 10-year Treasuries increased six basis points to 1.44%.Germany’s 10-year yield jumped six basis points to -0.25%.Britain’s 10-year yield advanced six basis points to 0.79%.CommoditiesWest Texas Intermediate crude fell 0.5% to $62.83 a barrel.Gold weakened 1.3% to $1,780.82 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.