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The Fed is likely to be less concerned that a rate hike will damage the labor market.
The S&P 500 has risen about 2.6% since late June despite a global bond market selloff that pushed 10-year Treasury yields to a high of 4.815%.
The 10-year Bund yields reached their highest since 2011 and yields on U.K. 10-year government bonds climbed to their highest level since 2007.
Corient Private Wealth LP cut its holdings in shares of Vanguard Total International Bond ETF (NASDAQ: BNDX) by 91.0% during the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,503 shares of the company's stock after selling 807,475 shares
Many factors are sending yields higher, but rising energy costs are the inflationary trigger
The bond selloff comes as investors were already reassessing inflation risks and government borrowing as renewed military escalations between the U.S. and Iran sparked a new surge in oil prices, with crude rising to $92 a barrel on Tuesday after two Saudi oil tanks were struck in the Strait of Hormuz. The strait handled around 20 million barrels of crude oil per day before the war, and while the U.S. says between 8 million and 9 million barrels are now exported daily, other tracking firms and analysts believe the number is between 2 million and 6 million.
Global bond yields surged Tuesday as renewed tension between the U.S. and Iran reinforced inflation expectations, which increased the prospect of interest-rate hikes in the coming months.
Beacon Pointe Advisors LLC increased its position in Vanguard Total International Bond ETF (NASDAQ: BNDX) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,503,755 shares of the company's stock after acquiring an additional 13,341 shares during