year: The 10-year US Treasury yield posted its biggest daily jump since the 2016 US presidential election on Wednesday after activity in the service sector hit a 21-year high and ADP private payrolls data for September came in stronger than expected, according to Nine News Australia. Comments from Fed Chairman Jerome Powell who said the US economy can expand for quite some time also helped the yield rise further. To improve your experience update it here News World Futures point to a lower US stocks open10 00pm Oct 4, 2018Facebook Tweet MailUS stock futures pointed to a lower open for Wall Street on Thursday after robust economic data and optimistic views from the Federal Reserve pushed government bond yields to multi-year highs, while curbing the appetite for stocks globally. The upbeat views raised expectations for a faster pace of monetary tightening, with odds for a fourth interest rate hike in December firming further. With valuations still elevated compared to historic levels, it requires an upbeat earnings season for stocks to maintain their bullish momentum, said Hussein Sayed, chief market strategist at FXTM. Risks are growing with borrowing cost on the rise and fixed-income markets looking very attractive. Rising bonds yields make stocks less attractive, especially those of high-dividend paying companies such as real estate and utilities.
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