Premarket: Bond rout keeps world stocks pinned down

Stocks fell on Wednesday as an ongoing rout in global bond markets saw U.S. bond yields reach 16-year highs, challenging equity valuations and souring appetite for risk assets as investors bet

Stronger-than-expected U.S. job openings data had sent the 10-year yield up nearly a dozen basis points on Tuesday. It rose on Wednesday a further 6.9 bps to 4.872%, its highest since 2007. Thirty-year Treasury yields also rose above 5% for the first time since August 2007.Yields on Germany’s benchmark 10-year debt rose above 3% for the first time since 2011. The country’s 30-year yield also climbed to its latest 12-year high.

Since their move has not come with much of a shift in market gauges of inflation expectations, U.S. yields in real terms - subtracting inflation - are also at almost 15-year highs and are sucking money from all corners into dollars. The Japanese currency had breached the 150-per-dollar level on Tuesday before suddenly shooting to 147.3. There was no confirmation from Tokyo, where Japan’s finance minister and top currency diplomat have made no direct comment on the move.The U.S. dollar’s march pushed the euro to its lowest in 10 months at $1.0448 overnight and sterling to a seven-month trough at $1.20535.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Global stocks slip as rising U.S. bond yields spook investorsU.S. dollar holds near recent highs as Fed officials suggest rates won’t be coming down any time soon
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Europe’s stocks eke out gainsMarkets see modest gains as traders aim for the first three-session run of back-to-back gains since August
Source: globeandmail - 🏆 5. / 92 Read more »

Stock market today: Most of Wall Street slips as the bond market cranks up the pressureMost stocks are drifting lower Monday as the constrictor of higher interest rates tightens its coils around Wall Street.
Source: CTVNews - 🏆 1. / 99 Read more »

Stocks sink as bond yields surge: Stock market news todayThe Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut any time soon.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks pummeled as bond yields surge amid hot jobs data: Stock market news todayThe Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut any time soon.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »