30-Year Yields Hit 2004 High as Oil Jumps - Europe Market Wrap
Stocks fell as another jump in oil prices fueled a fresh bond selloff, pushing 30-year Treasury yields to their highest level since 2004 and reviving concerns over persistent inflation. S&P 500 futures dropped 0.5%, putting the index on track to give back most of its weekly gain, while Nasdaq 100 futures fell 0.9%. The Treasury selloff intensified at the long end, with 30-year yields rising four basis points to 5.43%. Brent crude climbed toward $105 a barrel, while expectations for higher-for-longer interest rates put the dollar on course for its longest winning streak since May. Inflation concerns have returned to the forefront as Brent remains above $100 and signs of a resilient US economy add pressure to bond markets. The rise in yields has weighed on equities, pulling the Nasdaq 100 further below its record high. Oil extended gains after an Iranian official warned that Tehran could expand the conflict into the Indian Ocean if the US or Israel launches further attacks. The bond selloff spread across Asia, with government bond yields in Japan, Australia and New Zealand rising more than 10 basis points Thursday. Equity benchmarks across Asia and Europe were heading for a second co
Stocks fell as another jump in oil prices fueled a fresh bond selloff, pushing 30-year Treasury yields to their highest level since 2004 and reviving concerns over persistent inflation. 9%. 43%. Brent crude climbed toward $105 a barrel, while expectations for higher-for-longer interest rates put the dollar on course for its longest winning streak since May.
Inflation concerns have returned to the forefront as Brent remains above $100 and signs of a resilient US economy add pressure to bond markets. The rise in yields has weighed on equities, pulling the Nasdaq 100 further below its record high. Oil extended gains after an Iranian official warned that Tehran could expand the conflict into the Indian Ocean if the US or Israel launches further attacks. The bond selloff spread across Asia, with government bond yields in Japan, Australia and New Zealand rising more than 10 basis points Thursday.
Equity benchmarks across Asia and Europe were heading for a second consecutive day of losses. Investors will also focus on a summit between President Donald Trump and Chinese President Xi Jinping later Thursday, as tensions between the world’s two largest economies remain over rare earths, technology restrictions and Taiwan. Treasury Secretary Scott Bessent said a trade agreement reached by the leaders last year will be extended by two months through Jan. 10, paving the way for further meetings at summits in Shenzhen and Miami.