A currency trader looks at monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Oct. 12, 2023. Asian shares mostly rose Thursday as investors awaited the release of U.S. consumer price index numbers and kept a cautious watch over the war between Israel and the Palestinian militant group Hamas.Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Oct.
Tensions in the Middle East are under the spotlight, with a possible escalation if nations like Lebanon or Iran are drawn in, which would set off significant movement in U.S. Treasuries, he said.The US is moving quickly to boost Israel’s military. A look at what assistance it is providingOn Wall Street, the S&P 500 rose 0.4% to 4,376.95 for its fourth straight gain. The Dow Jones Industrial Average added 0.2% to 33,804.87, and the Nasdaq composite gained 0.7% to 13,659.68.
The stock market got a boost from that drop in longer-term yields, but it also felt a drag from rising shorter-term yields. The two-year Treasury yield, which moves more closely with expectations for the Fed, ticked up to 4.99% from 4.97%.was stronger last month than economists expected. A report showing how much inflation U.S. households are facing will arrive on Thursday, and economists expect it to show a slowdown.
Still, with the U.S. government racking up big deficits that require more borrowing, and buyers in shorter supply, the pressure has been mostly upward on Treasury yields.
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