Stocks, Treasuries fall as rate hikes in focus
BNN Bloomberg
Stocks and government bonds fell Monday as investors focused on inflation and the impact of tightening by central banks.
Stocks and government bonds fell Monday as investors focused on inflation and the impact of tightening by central banks.
Technology and consumer discretionary stocks led a decline in the S&P 500 and 10-year Treasury yields climbed through 2.75 per cent for the first time since March 2019 after the Federal Reserve last week signaled sharp interest-rate hikes and balance-sheet reduction to curb price pressures.
Europe’s Stoxx 600 fell as investors focused on an uncomfortably tight presidential race in France and growing expectations for the European Central Bank to end an era of negative rates by December. The euro and a gauge of the dollar rose.
Chinese stocks also slipped amid the mainland’s COVID outbreak, elevated factory-gate prices and regulatory concerns in the technology sector.
Oil retreated on risks to demand from China’s lockdowns, as Iran said the 2015 nuclear deal is in the “emergency room.”
