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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