Global stocks steady, US Treasury yields rise as recession worries persist

NEW YORK, Aug 17 ― Global equity markets were flat while US Treasury yields rose yesterday, as recession worries persisted amid concern the Federal Reserve will continue its steep interest rate hikes despite nascent signs of a slowdown in inflation.

“The weird thing is that in the last couple of weeks bond yields have gone up and stayed up so there's kind of a disconnect. There's kind of a question maybe inflation isn't that bad and we may actually be going into a recession. Market participants are all over the place,” he added. On Wall Street, the benchmark S&P 500 and the Dow reversed earlier losses and closed higher, with stocks in consumer discretionary, consumer staples, financials and industrials leading the rebound.

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