TOKYO — Shares mostly rose Tuesday in Asia after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after creeping above 5%.in the bond market that have been pressuring stock prices since the summer seemed set to climb further after the 10-year Treasury briefly topped 5.02% to touch its highest level since 2007.
Shanghai's benchmark had fallen to its lowest level in several years as worries over a slump in the property market and a slowing economy in general have led investors to sell off shares. Treasury yields help dictate how much investors pay for everything from stocks to corporate bonds to cryptocurrencies. Higher yields also make it more expensive for nearly everyone to borrow money, which puts the brakes on economic growth and adds stress to the entire financial system.
Economic updates this week will include a Friday report on how much U.S. households are spending and what kind of inflation they're feeling. Kevin Paffrath slammed Elon Musk's comments on Tesla's third quarter earnings call in an interview with Yahoo Finance this week.
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