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The new Federal Reserve chairman has not convinced the market that the Fed will be working to dampen inflation. Rates on consumer and business debt are already trending higher.
The 30-year Treasury bond yield recently reached its highest level since 2007, sparking concern about a stock market sell-off. Long-term investors shouldn't worry too much about short-term moves in bond yields.
Brent crude stays above $100, S&P futures climb
Archford Capital Strategies LLC reduced its stake in shares of iShares 1-3 Year Treasury Bond ETF (NASDAQ: SHY) by 81.4% during the undefined quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,001 shares of the company's stock after selling 126,650 shares during the
South Korean stocks fell sharply on Thursday as Brent crude held above $100 a barrel, pushing the KOSPI back below the 7,000 mark just a day after it reclaimed the level for the first time in more than a month. The benchmark was down 1.28% at 6,961.23 by late morning in Seoul.
The yield on the 10-year Treasury was rising Wednesday after the Treasury Department announced it would buy back $6 billion in bonds, an effort it undertook to ease the market's recent wobbles.
The US Treasury will purchase up to $6 billion of longer-dated government debt in the first operation under an expanded buybacks program. It's part of Treasury Secretary Scott Bessent's effort to stem the rise in borrowing costs.
"Escalation is the word of the day" after the U.S. hit five Iranian oil tankers near the Strait of Hormuz. Kevin Hincks points to crude oil's steady rise near $96 Wednesday morning as the key metric to watch, a level not seen since early June.