An employee walks past share price information for tickers listed on the FTSE100 share price index in the atrium of the London Stock Exchange Group’s offices. Picture: BLOOMBERG/SIMON DAWSON
The yield curve — measured by the spread between two- and 30-year yields — was the flattest since late January as investors brought forward rate-hike expectations while lowering the longer-term outlook for growth and inflation. St Louis Fed President James Bullard further fuelled the sell-off on Friday by saying the shift towards faster policy tightening was a “natural” response to economic growth and particularly inflation moving quicker than expected as the country reopens from the coronavirus pandemic.
US stock futures pointed to gains when Wall Street reopens, up 0.2% after Friday's 1.3% slide in the S&P 500. Nasdaq futures were up 0.3%.