Yields slip, stocks waver as Fed officials warn of higher rates

NEW YORK/LONDON, Sept 22 - Treasury prices rebounded but a gauge of global equities pared gains on Friday, adding to sharp sell-offs earlier this week, after three Federal Reserve officials warned further rate hikes may be needed to ensure inflation is brought under control.

"Certainly they wanted to send the message that higher is going to be around for longer and they went all-in on the soft landing. There's some inconsistencies associated with that." Yields on two- and 10-year notes remained inverted at -68.3 basis points as the shorter-dated note yields more than the longer one. The inversion is seen as a consistent recession harbinger.

On Wall Street, the Dow Jones Industrial Average rose 0.13%, the S&P 500 gained 0.27% and the Nasdaq Composite added 0.42%. U.S. crude futures CLc1> settled up 40 cents at $90.03 a barrel and Brent fell 3 cents to settle at $93.27.

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