Stocks Edge Up to Near Record, Bonds Extend Slide
Global equities are pushing toward record highs, driven by a technology sector rally that lifted the Nasdaq and the S&P 500 despite sustained pressure from declining bond markets. Treasury yields remain near multi-decade highs, with the 10-year yield trading around 5.32 percent, levels not seen since 2002. Asian and European indices have tracked Wall Street higher, while commodities show mixed movement as gold prices slip and crude oil hovers near 100 dollars a barrel. Investors are balancing optimism over artificial intelligence and corporate earnings against mounting fiscal concerns and elevated borrowing costs worldwide.
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- ✓ The US 10-year Treasury yield rose around 1 basis point to 5.32 percent, near levels last seen in 2002.
- ✓ The Nasdaq 100 reached a record close following a tech-led rally on Wall Street.
- ✓ MSCI's Asia-Pacific index rose around 0.1 percent, trading roughly 2 percent below its record.
- ✓ Gold slipped around 0.4 percent to roughly 4,120 dollars an ounce.
What changed
Global stocks edged closer to record highs even as Treasury yields extended their multi-decade climb.
Live updates
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Global Stocks Push Near Records While Bond Slump Extends
Global equities are pushing toward record highs, driven by a technology sector rally that lifted the Nasdaq and the S&P 500 despite sustained pressure from declining bond markets. Treasury yields remain near multi-decade highs, with the 10-year yield trading around 5.32 percent, levels not seen since 2002. Asian and European indices have tracked Wall Street higher, while commodities show mixed movement as gold prices slip and crude oil hovers near 100 dollars a barrel. Investors are balancing optimism over artificial intelligence and corporate earnings against mounting fiscal concerns and elevated borrowing costs worldwide.
Why it matters
The ongoing equity strength demonstrates resilience among stock investors who are largely shaking off persistent headwinds from the fixed-income market. Government bonds globally have extended losses, tracking the sharp rise in US Treasury yields as markets recalibrate interest rate expectations. Meanwhile, currency markets face additional strain from fiscal pressures in Europe, where French borrowing spreads over Germany reached their widest gap since 2011.
What is confirmed
- The US 10-year Treasury yield rose around 1 basis point to 5.32 percent, near levels last seen in 2002.
- The Nasdaq 100 reached a record close following a tech-led rally on Wall Street.
- MSCI's Asia-Pacific index rose around 0.1 percent, trading roughly 2 percent below its record.
- Gold slipped around 0.4 percent to roughly 4,120 dollars an ounce.
- Brent crude rose 0.6 percent to about 100.90 dollars a barrel.
Still unconfirmed
- France's government owes close to 120 percent of what its economy produces in a year, with borrowing spreads over Germany reaching their widest since 2011.
What to watch next
- Upcoming corporate earnings season announcements
- Further developments regarding political and fiscal updates in Europe
- Upcoming US labor data releases
confidence 95%Sources used for this update (20)
- finance.yahoo.com — Stock market today: Dow, S&P 500, Nasdaq futures rise ahead of key jobs report as oil steadies
- finance.yahoo.com — U.S. stock futures tick higher as soft jobs data eases Fed ...
- finance.yahoo.com — Stock market today: Nasdaq, Nvidia post record highs as tech strength outshines bond weakness
- Bloomberg.com — Asia Stocks Set to Rise After Tech Rally, Oil Dips: Markets Wrap
- Reuters — Asian shares track Wall Street higher, Treasury yields near multi-decade highs
- Yahoo Finance — Asian shares are higher as easing worries over inflation reduce odds for another Fed rate hike
- WSJ — Asian Currencies Consolidate Ahead of U.S. Data
- WKBN.com — US futures edge lower under sustained pressure from bond markets
- Investing.com — Asia stocks choppy as elevated yields temper Wall Street-led gains
- usnews.com — Asian Shares Are Mixed After Wall Street Gains, Oil Price Steadies
- finance.yahoo.com — Asian stocks mixed despite tech-led Wall St record
- www.zerohedge.com — S&P Set To Open At Record High As Oil Slides, Bond Rout Takes A Breather | ZeroHedge
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