Global stocks hit record; US Treasury yields hover above five-month lows | Malay Mail

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NEW YORK, July 13 ― A gauge of global stocks closed at a record yesterday and US Treasury yields held above five-month lows touched last week as investors looked for signs on whether the Delta variant of the Covid-19 coronavirus could hamper economic growth. Last week, a bond market rally pushed...

NEW YORK, July 13 ― A gauge of global stocks closed at a record yesterday and US Treasury yields held above five-month lows touched last week as investors looked for signs on whether the Delta variant of the Covid-19 coronavirus could hamper economic growth.

Analysts also cited a lack of supply for the drop in yields. Yields were little changed after Treasury sold US$58 billion in three-year notes and US$38 billion in 10-year notes, with a sale of US$24 billion in 30-year bonds set for today. “Even if forecasts are not as rosy as what the most bullish had hoped, it's all going to get rationalised away.”Equity gains on Wall Street were modest, with financials the best-performing S&P sector of the session ahead of results from JPMorgan Chase, Goldman Sachs and Bank of America today, but the gains were enough to push each of the three major averages to record closing levels.

 

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