U.S. stock futures were little changed and holding latest gains as 10-year treasury yields eased further from recent highs.
U.S. stock futures were little changed and holding latest gains as 10-year Treasury yields eased further from recent highs.
What’s driving markets Stock market moves of late have been quite tightly correlated to vacillations in benchmark bond prices as investors strive to calculate the trajectory for borrowing costs given the stoic U.S. economy and the Federal Reserve’s determination to push inflation to its 2% target.Talk of more stimulus for China’s economy helped markets in Asia and further underpinned sentiment, according to analysts.
Mark Newton, head of technical strategy at Fundstrat, remained wary, however: “If yields begin to move back to new monthly highs that would likely spook U.S. equities, and it’s important not to rule that out just yet.” The central bank in particular will be paying close attention to its preferred inflation measure, the July personal consumption expenditures price index, due on Thursday, followed by the August nonfarm payrolls data on Friday.
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