U.S. stock futures were little changed Monday, struggling for direction as bulls hoped to build on upside momentum after the best week of 2023 for major indexes.
Yields on the benchmark 10-year U.S. Treasury bond BX:TMUBMUSD10Y, which just a few weeks ago had traded at a fresh 16-year high above 5%, at one point on Friday dipped below 4.5%. “Whether the recent rebound in bonds can be sustained holds significant implications. This week’s bond auctions will play a crucial role, and the upcoming release later this month will be decisive significantly, as it might eliminate the possibility of another rate hike entirely,” Innes added.
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