Bond Yields Surge Across Developed Markets, Stocks Fall
10-year Treasury yield hit 4.81%, the highest since Oct 2023, as bonds sold off globally. Stocks fell, dollar mixed, EUR/USD slipped to 1.1573, gold near $4,300.
Alpha Score of 49 reflects weak overall profile with strong momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
Global bond yields surged across developed markets, pushing 10-year benchmarks to multi-year highs. The sell-off kept risk assets under pressure and currencies mixed.
The 10-year Treasury yield hit 4.81%, the highest since October 2023. German 10-year yields reached 3.37%, a level last seen in 2011. France's 10-year yield climbed to 4.24%, its highest since 2008. The UK 10-year yield rose to 5.26%, the highest since 2008. Japan's 10-year yield hit 3.02%, a high not reached since 1996.
The dollar gained against most peers. One exception was the yen. USD/JPY fell to 159.45 from an Asian high of 160.40. It last traded at 159.70, down 0.3%. EUR/USD declined 0.2% to 1.1573. NZD/USD dropped 1.2% to 0.5820 after the Reserve Bank of New Zealand raised its policy rate and signalled a more gradual tightening path.
Gold traded around $4,300, holding near that level after falling in the previous session. WTI crude oil fell 0.8% to $89.44, pulling back from an intraday high above $92. The contract still held a weekly gain of around 7%.
European stock indices declined. S&P 500 futures edged down 0.1%, and Nasdaq 100 futures fell 0.2%, extending a three-day losing streak since last Friday.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.