Trading Day: US yields cross 5% threshold
On Wednesday, U.S. bond yields surged to their highest levels since 2007, indicating expectations of an interest rate hike next month, according to the wire material. The increase in borrowing costs, coupled with higher oil prices, caused stocks to decline. The five-year yield surpassed the 5% threshold for the first time since 2007, potentially signaling a psychological milestone.
Although Treasury Secretary Scott Bessent suggested the possibility of progress in trade talks with China, market expectations remain low. U.S. diesel futures fell to a two-week low due to Trump's suggestion of a ban on U.S. diesel exports, although the effectiveness of such a measure is uncertain.
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- Trading Day: US yields cross 5% threshold channelnewsasia.com
