Currency traders work near the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, May 30, 2024.
With few data releases this week, the biggest factor weighing on stocks has been rising bond yields. By early Thursday, the 10-year yield had risen to 4.62% from 4.54% late Tuesday, following an auction of $44 billion in seven-year Treasurys. This month’s swings in bond yields comes as traders recalibrate their expectations for when the Federal Reserve couldWith inflation stubbornly higher, traders have had to delay their“Hotter and stickier than expected global inflation appears to be taking the air out of asset markets,” Mizuho Bank said in a commentary. “In other words, “Goldilocks” coming undone. And worries about adverse demand impact from higher rates seeping through,” it said.
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