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The Bond Market Is Having a Wild Month. Oil Is Making Things Even Worse
Global equities advanced as the 10-year U.S. Treasury yield jumped 20 basis points in two days to a 19-year high, pressuring borrowing costs.
- Global stocks headed for their best weekly performance since early August on Friday, as optimism over Middle East energy supplies outweighed surging bond yields.
- Bond yields climbed steadily this year before soaring higher on Wednesday after strong economic data, hawkish Federal Reserve comments, and a weak bond auction.
- The 30-year Treasury yield rose as high as 5.53% on Friday, its highest since 2004, while the average 30-year fixed mortgage rate topped 7%, a two-year high.
- Negotiators are exploring a phased path to reopen the Strait of Hormuz, though Nordea chief market strategist Jan von Gerich warned, "Markets tend to buy the rumour on signs of better news coming from the Middle East."
- Persistent Oil prices above $100 per barrel—a more than 60% increase since the start of the year—continue to drive market volatility as Investors assess the rising correlation between Energy and Treasury yields.
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11 Articles
The bond market is having a wild month. Oil is making things even worse
By John Towfighi, CNN New York (CNN) — Bonds had a wild week, with yields around the globe spiking to their highest levels in decades. Bond market volatility increased at its fastest pace in over a year. That’s making investors concerned that the turbulence could spill into the stock market.The bond market’s “fear gauge,” which
·Panama City, United States
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The MOVE index, which measures volatility in US bond markets, has climbed to peaks since March, while bitcoin and Wall Street remain relatively calm. The American Treasury market thermometer has dropped from around 80 points to 104, the highest level recorded since March, when it had reached 199. Meanwhile, the [...]
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Leaning Left0Leaning Right0Center8Last UpdatedBias Distribution100% Center
Bias Distribution
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100% Center
C 100%
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