3
NEW YORK.– The US 10-year yield stands at 5.134% (+2.68%) and the S&P 500 sits at 7,592 (-0.35%). Rate-hike bets, not growth fears, are driving the move.
The bond sell-off came as US Treasury yields moved higher following another increase in oil prices, while Federal Reserve official John Williams warned that inflation remained too high.
Higher yields also hit other assets: gold fell 2.46%, according to market data, as investors moved toward higher-yielding bonds.
