82FINANCE
⚡ Markets: Higher yields tighten financial conditions, pressuring equity valuations, particularly for tech and growth stocks. Strengthens the US dollar. Increases borrowing costs for corporations and consumers.US 10Y YieldUSDNasdaq 100
U.S. Treasury yields rose sharply, with the 10-year rate approaching 5%, after producer price inflation for August came in higher than expected, driven by energy costs. A Treasury Department bond buyback operation failed to calm the market, which is increasingly pricing in the possibility of another Federal Reserve interest rate hike.
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