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More pain as bonds dump, stocks sink

A lower-than-expected yield at today's 5-year auction didn't do anything to stem the pain in the bond market. The auction stopped through by 1.2 bps but the rest of the market used that bounce as an entry to sell more. 5s are now up 7.1 bps on the day to 4.69%. It's a consistent move right across the curve as the market pukes up fixed income.In turn, rising yields are hitting stocks with the S&P 500 now down 32 points, or 0.7%. In FX, that means more US dollar buying as we hit the highs of the d... Read More

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Content Topics

Pain

Bonds

Dump

Stocks

Sink

Forex

Posted: Sep 27 2023, 17:31

Author Name: forexlive

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