NEW YORK/LONDON, June 7 - Global stocks flirted with an all-time high on Friday even after surprisingly strong U.S. monthly jobs data dimmed hopes that the Federal Reserve will soon follow euro zone and Canadian interest rate cuts, causing Treasury yields to shoot higher.
“It’s a plus for the economy and a plus for corporate earnings, but it’s a negative in terms of the prospects of a rate cut perhaps as early as September.” The benchmark 10-year U.S. Treasury yield , a benchmark for borrowing rates globally, leapt over 14 basis points after the jobs report, to 4.4256%, its biggest one-day jump in about two months.
A September move had been strongly expected earlier in the day, particularly after the European Central Bank made a widely expected decision to cut its deposit rate from a record 4% to 3.75% on Thursday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian Stocks to Trend Lower After Treasuries Drop: Markets WrapStocks in Asia were mostly set to decline after a US session dominated by a sell-off in bonds, with traders also weighing mixed economic data and remarks from Federal Reserve speakers for clues on the policy outlook.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Asian Stocks to Trend Lower After Treasuries Drop: Markets Wrap(Bloomberg) -- Stocks in Asia were mostly set to decline after a US session dominated by a sell-off in bonds, with traders also weighing mixed economic data ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Markets today: Stocks slide as Treasuries face US$44 billion saleThe stock market came under pressure, with traders on high alert before a US$44 billion sale of seven-year notes that follows two weak auctions on Tuesday.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Markets today: Tech rout hits stocks as treasuries gain after GDPWall Street traders sent stocks down and bonds up after the latest round of economic data signaled momentum is slowing.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Fad stocks vs. trend stocks: ExplainedAre you considering venturing into the stock market? You may want to be cautious about fad and trend stock investments. Fad stocks are often characterized by...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »