10-yr Treasury yields pull back from 5%, helping weary stocks

Oct 23 - The benchmark U.S. Treasury yield pulled back after crossing 5%, a 16-year high, on Monday, helping stocks rebound slightly, as oil slipped on continued turmoil around the Israel and Hamas conflict.

"We're going to see a steeper yield curve and that's going to put pressure on long-term rates," di Galoma said."In the next six to nine months we'll see a fairly extensive economic slowdown and that's what the market's pricing in." MSCI's gauge of equity performance across the globe gained 0.22%, just off a low last seen in late March, while the pan-European STOXX 600 index lost 0.13%.

From an economic perspective 5% is just another number but it resonates with investors, said Daiwa Capital chief economist Chris Scicluna. GROWTH SURGE Major companies including Microsoft , Alphabet , Amazon and Meta Platforms all report earnings this week. IBM and Intel are also on the docket.

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Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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Rising bond yields, Middle East conflict weigh on European stocksKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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