S&P 500: Equities resilient despite rates selloff – Deutsche Bank
Deutsche Bank’s Jim Reid notes that global equities, including the S&P 500, held up well despite a notable rise in bond yields and hawkish rate expectations. The S&P 500 gained over 1% on the week and remains close to record highs, supported by optimism on growth and strong PMI data.
Deutsche Bank’s Jim Reid observed that global equities, including the S&P 500, performed well despite rising bond yields and expectations of aggressive rate hikes. The S&P 500 experienced a weekly gain of over 1% and is near record highs, bolstered by growth optimism and strong PMI data. Tech giants, such as the Magnificent 7, added to the positive equity performance.
However, despite the selloff in rates, equities remained resilient globally during the past week. For example, the S&P 500 closed +1.21% higher (+0.51% on Friday), bringing the index within 1% of its record high. In Europe, the STOXX index climbed +0.50% (+0.35% Friday), while Japan's Nikkei surged +2.07% (+1.30% Friday). This article was generated using AI assistance and edited by a human.
Market experts from FXStreet Insights Team have curated the insights, incorporating commercial and additional perspectives from internal and external analysts.
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