News Formal

Premarket: Global stocks wilt after U.S. bond yield jump as rate cut doubts resurface

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 43 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 70%
  • Publisher: 92%

Newsletter News

Marketupdate,Tsx,Stocks

U.S. yields climbed after consumer confidence data came in stronger than expected and Fed’s Neel Kashkari said further rate hikes were still a possibility

U.S. government bond yields pushed to a near four-week peak, lifting their global counterparts and pressuring stocks, as data sowed new doubts about the timing and extent of Federal Reserve rate cuts.

The benchmark 10-year U.S. Treasury yield rose as high as 4.576 per cent, a level not seen since May 3, and was last up two basis points at 4.566 per cent. Yields move inversely to prices. Traders currently put the odds of at least a quarter-point interest rate cut by September at around 44 per cent following the data, from a coin toss a day earlier, according to the CME Group’s FedWatch Tool.

Gupta said the release of U.S. personal consumption expenditure inflation data on Friday will be an important guide for Fed policy. Economists expect PCE inflation - the Fed’s preferred measure - held steady at 2.7 per cent in April from the same level in March. In energy markets, Brent crude oil futures for July delivery rose 0.65 per cent to $84.78 a barrel, the highest since May 1, while U.S. crude futures climbed 0.74 per cent to US$80.42.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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 slide as rate worries dent risk appetiteRobust U.S. and German economic data bolstered prospects of interest rates staying higher for longer
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks slide ahead of U.S. Fed minutes while crypto soarsGold eased back from Monday’s all-time peak, while crude oil declined on worries of U.S. interest rates staying high for longer
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks drift after Fed officials hint interest rates may not fall soonLatest data show that U.S. labour market remains tight; U.S. futures pointing lowewr
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks rally on rate cut hopesU.S. futures point higher as Wall Street looks to extend its run
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks little changed ahead of U.S. inflation dataBenchmarks in Europe, Wall Street futures were steady
Source: globeandmail - 🏆 5. / 92 Read more »