Global stocks slip, US yields steady but growth outlook dims

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NEW YORK, Sept 19 — Global equities slid and the 10-year Treasury yield traded close to a 16-year high yesterday amid rising concerns that the Federal Reserve’s...

NEW YORK, Sept 19 — Global equities slid and the 10-year Treasury yield traded close to a 16-year high yesterday amid rising concerns that the Federal Reserve’s higher-for-longer message on interest rates will take a toll on US consumers.

“The Fed is unlikely to raise at this meeting,” Ghriskey said. But I think they’re in an every-other meeting raise cycle, unless we really see significant improvement in inflation.” The benchmark 10-year Treasury yield was at 4.3125 per cent, just below the 4.366 per cent level reached on August 22, and the two-year yield rose further above 5 per cent.

France’s third-biggest listed bank said it expected little if any growth in annual sales over the coming years in a keenly awaited strategic plan from its new chief executive. Shares of property developer China Evergrande Group plunged 25 per cent yesterday after police detained some staff at its wealth management unit. Fellow developer Country Garden faced another liquidity test with a deadline to pay US$15 million in interest linked to an offshore bond.

 

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