Stocks Rise as Bond Selloff Eases and Oil Prices Retreat
publishers 10articles 15first reported 23 Sep, 23:47 UTCdeveloping since 23 Sep · 9 editions
U.S. stocks moved higher Friday as a global bond selloff slowed and oil prices retreated, according to reports from Bloomberg, Reuters, The Wall Street Journal and Yahoo Finance. Stock futures also rose, with the Dow Jones Industrial Average facing the prospect of a fourth consecutive weekly decline, Quartz reported.
Treasury yields remained elevated after hawkish Federal Reserve commentary and stronger-than-expected U.S. economic data. CNBC reported that the benchmark 10-year Treasury yield rose more than 1 basis point to 5.175%, after reaching its highest level since June 2007 on Thursday. The 30-year yield edged up to 5.47%, while the 2-year yield slipped slightly to 4.891%.
The week’s bond-market pressure extended beyond the United States, with yields on Japanese government bonds, U.K. gilts, German bunds and other eurozone debt reaching fresh highs before eurozone and Japanese yields eased Friday.
Fed Governor Michael Barr said Wednesday that “further policy adjustments” could be expected to return inflation to target. Higher oil prices and a purchasing managers’ index reading at its strongest level in more than four years also contributed to the rise in Treasury yields. Traders assigned a 66% probability to an October rate increase, according to CME FedWatch data cited by CNBC.
HOW THIS STORY WAS MADE
Written from 8 articles, 1 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 42 h after the record first saw the story; the editor kept it as written.
- Publishers
- 10
- Source articles
- 15
- Given to the writer
- 8, 1 with the article's own text
- Independent newsrooms
- 8
- This version written
- 42 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →