U.S. stock futures meandered with mildly fluctuating Treasury yields early Thursday, amid signs the bond market sell-off was abating.
Ten-year Treasuries were little changed on Thursday, but consider the previous two sessions. The S&P 500 fell 1.4% on Tuesday as the 10-year Treasury yield hit a fresh 16-year high around 4.8% when the JOLTS survey showed a robust labor market. “Sweet would be loosening jobs data, sour would be a still-strong jobs data which would fuel the hawkish Fed expectations and further boost U.S. yields…[which] are at a critical moment,” she added.
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