US Stocks Decline as Middle East Stalemate Pushes Oil Higher
Fading hopes for a breakthrough in the Middle East and rising inflation worries pushed US stocks lower before the bell on Monday.
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Fading hopes for a breakthrough in the Middle East and rising inflation worries pushed US stocks lower before the bell on Monday.
Yields on the US government's longest-dated bonds climbed to the highest level in more than two decades, the latest milestone notched in an extended bond selloff driven by inflation and fiscal concerns. The rate on 30-year Treasuries rose as much as four basis points on Thursday to 5.44%, the highest since 2004, after Brent crude oil prices jumped. It follows a surge this week that leftย yieldsย across maturities around the highest levels since 2007. JP Morgan Private Bank's Global Investment Strategy Co-Head Grace Peters joined Lizzy Burden and Stephen Carroll on Bloomberg radio to discuss. Christopher Pitt (Source: Bloomberg)
The US Federal Reserve has raised its key interest rates for the first time in three years, as it seeks to bring down high inflation. The policy decision sets up a potential confrontation between Chairman Kevin Warsh and President Donald Trump, who has repeatedly called on the central bank to cut interest rates. Also in the show - France extends fuel subsidies as fishermens' protests gather momentum, and Hong Kong seeks to fall in line with Beijing's economic vision.ย