Global yields rise to multi-year highs as U.S. data disappoints
Global yields climbed broadly as U.S. equity indices slipped, with Nasdaq futures leading. The U.S. 10-year Treasury yield hit its highest level since early 2025 and September FOMC hike odds rose.
Bob Iaccino of Path Trading Partners said U.S. equity indices were moving lower, with Nasdaq futures leading the decline. He said job openings fell for the third straight month and that ISM manufacturing remained in expansion territory despite missing expectations. He said global yields were rising across the board, with the U.S.
10-year Treasury yield reaching its highest level since early 2025 and the probability of a September FOMC rate hike increasing. He added that attention was turning to the Fed's Beige Book, ongoing corporate earnings and key rate decisions from the RBA and Bank of Canada.