S&P 500 Erases September Gain as 10-Year Treasury Yield Hits 19-Year High
Updated
Updated · Bloomberg · Sep 28
S&P 500 Erases September Gain as 10-Year Treasury Yield Hits 19-Year High
3 articles · Updated · Bloomberg · Sep 28
Summary
Brent crude held near $105 after paring an earlier rally, keeping pressure on risk assets as fading hopes for a near-term US-Iran diplomatic breakthrough stoked inflation fears.
The S&P 500 wiped out its advance for the month, the Nasdaq 100 fell 1.1%, and Treasuries sold off again, pushing the 10-year yield to a nearly two-decade high.
Money markets increased bets on an October Federal Reserve rate hike as investors priced in the risk that a prolonged energy shock would keep price pressures elevated.
The move extended a broader flight into the dollar while gold slipped, underscoring how the Middle East standoff is rippling across commodities, bonds and equities.