Bond yields surge as Wall Street fears more potential Federal Reserve rate hikes

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US stocks retreated from their highs yesterday as markets reacted to rising bond yields and the growing likelihood that the Fed will have to raise interest rates as early as October.

The Cryptonomist

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Wall Street has closed in red net Wednesday, overwhelmed by a wave of sales on government bonds that has brought returns to the maximum for almost eighteen years. Behind the collapse there is a precise fear: new Federal Reserve rates increases in the coming months, driven by an inflation that does not go back. Key points The S&P 500 ha [...]