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Wall Street is eyeing the bond market's long summer slump as oil price soar and debt levels escalate.
U.S. and U.K. 10-year government-bond yields rose to two-month highs while the equivalent German yield hit its highest level since 2011 as escalating clashes in the Middle East lifted Brent crude close to $100 a barrel.
One of the largest IPOs in history closed in June, drawing more than $300 billion in orders for $75 billion of shares sold, an oversubscription of roughly 4x.
Artificial intelligence, cryptocurrency and private markets have dominated ETF headlines this year, but one of the industry's fiercest battles is unfolding in a far less glamorous corner of the market: cash.
The Schwab US Dividend Equity ETF (SCHD) has moved sideways in the past few days. It has remained inside the key support and resistance levels of $31.60 and $32.90 since May.
The Nikkei 225 Index traded sideways on July 8 as artificial intelligence (AI) stocks rebounded after Tuesday's sharp sell-off. The index was trading at 39,770, about 7% below its highest level this year.
Investors who pay close attention to the bond market generally monitor two interest rate benchmarks above all else.
Bond ETF inflows are running 60% ahead of last year's level, which was itself a record pace, a rise that a BlackRock executive described as "shocking" to CNBC. Elevated stock market volatility, a new Fed chair, and ongoing inflation fears are all part of the picture as investors in the market hunt for maximum "real yield.
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