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 breaks down the latest market action, noting U.S. equity indices pushing lower with Nasdaq futures leading the decline.
Job openings fell for the third straight month, while ISM manufacturing held in expansion territory despite missing expectations.
Global yields are climbing across the board, with the U.S.
10-year Treasury yield hitting its highest level since early 2025 and the probability of a September FOMC rate hike rising.
Looking ahead, focus shifts to the Fed's Beige Book, ongoing corporate earnings, and key rate decisions from the RBA and Bank of Canada.