Data on Tuesday morning US time showed new US home construction continued to decline in November and permits plunged. However, closing prices climbed in the third quarter, and the Fed will continue to raise rates if housing remains costly, which could be detrimental for risk assets in the long term. Treasury yields remained elevated, with the 10-year rate hovering around 3.68 per cent. Yields had risen after a hawkish move from the Bank of Japan sent the yen soaring more than 4 per cent against the dollar. Analysts reckon more losses lie ahead as Japanese investors – big players in...