Dow Jones, S&P 500, Nasdaq: US-Börsen kaum bewegt – Anleiherenditen ziehen wieder an

Recent inflation and economic growth data from the United States barely moved the US stock markets, with the Dow Jones, S&P 500, and Nasdaq showing minimal change. However, after the market closed, investors' attention turned to bond yields as a result of the inflation news. The Nasdaq index, which tracks the top 100 non-financial companies by market capitalization, remained almost unchanged at 26,169 points. The S&P 500 also held steady at 7,686, while the Dow Jones slipped slightly to 53,498 points.

The latest consumer price index (CPI) data showed that U.S. consumer spending rose by 3.7% year-over-year in July, exceeding economists' expectations of 3.6%. Despite this, private consumption increased by only 0.2% compared to the previous month. This figure matched the level from June, which is the inflation metric favored by the Federal Reserve (Fed). The core PCE, excluding volatile food and energy prices, remained at 3.3%.

Following the release of this data, bond yields surged once again. The 10-year U.S. Treasury bonds yielded 4.653%, up from 4.625% previously. The probability of a Fed rate increase in September rose to around 42% from the previous estimate of 36%, as investors anticipate higher interest rates. Generally, expectations of rising interest rates drive up the yields of U.S. Treasury bonds, as new bonds would offer higher interest rates.

Existing bonds with lower interest rates become less attractive, causing their prices to fall and yields to rise.