The three main U.S. stock indexes are on track for sharp weekly losses as a spate of strong economic data, including a fall in weekly jobless claims, caused investors to dial back expectations ofThe yield on the 10-year Treasury note hit a ten-month high of 4.328% in the previous session and came within a whisker of its highest level since 2007.
"The drivers really have been of late the rising Treasury yields and that is signaling a more risk-off investor sentiment," said Art Hogan, chief market strategist at B Riley Wealth.Traders see a nearly 91% chance of the Fed holding rates at current levels at its September meeting, according to the CME Group's FedWatch tool.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ksatnews - 🏆 442. / 53 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »