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Bond yields follow U.S. Treasuries sell-off globally, stocks sink


Added 10-04-18 12:03:01pm EST - “A sell-off in U.S. Treasuries pushed yields to multi-year peaks on Thursday as r...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Bond yields follow U.S. Treasuries sell-off globally, stocks sink”. Below is an excerpt from the article.

NEW YORK (Reuters) - A sell-off in U.S. Treasuries pushed yields to multi-year peaks on Thursday as robust economic data and hawkish speeches by Federal Reserve officials stoked concerns about inflation, weighing on stock markets globally.

The yield on the benchmark 10-year note hit a high of 3.232 percent following data released the previous day that was seen as increasing the odds a payrolls report due on Friday would also be stronger than expected.

Fed Chairman Jerome Powell said the economy can expand for “quite some time,” which also helped the yield curve steepen to its highest in two months.

The Dow Jones Industrial Average fell 212.4 points, or 0.79 percent, to 26,615.99, the S&P 500 lost 20.51 points, or 0.70 percent, to 2,905 and the Nasdaq Composite dropped 108.74 points, or 1.35 percent, to 7,916.35.

The pan-European FTSEurofirst 300 index lost 0.99 percent and MSCI’s gauge of stocks across the globe gained 0.02 percent.

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