S&P 500 Futures stay depressed as yield renew multi-month high amid inflation, rate hike woes – by anilpanchal7 SP500 Futures YieldCurve Inflation CentralBanks
ion, as well as rates, during early Thursday. Adding strength to the risk-off mood could be the likely US-China tension at the Group of 20 meetings.
That said, the US 10-year Treasury bond yields rose to the highest levels since early November 2022 by piercing the 4.0% mark whereas the two-year counterpart rallied to the highest levels since June 2007 by flashing the 4.91% mark at the latest. The jump in the US Treasury bond yields portrays the market’s fears, which in turn probed bulls on Wall Street and weigh on S&P 500 Futures of late. As a result, the S&P 500 Futures dropped half a percent by the press time despite the mixed closing of the Wall Street benchmarks.details for February gain major attention as the headline gauge rose to 47.7 during the said month from 47.4 prior, versus the 48.0 expected.
Ahead of the data, Minneapolis Federal Reserve President Neel Kashkari said, "Wage growth is now too high to be consistent with 2% inflation." The policymaker also added and noted that it is concerning that the Federal Reserve's rate hikes so far have not brought down service inflation. Not only the Fed but policymakers from the Bank of England and the European Central Bank also highlighted the need for further rate lifts to battle the inflation woes.
Elsewhere, the market’s anxiety ahead of the Group of 20 meeting also weighs on the sentiment as the latest headlines from the New York Times suggest a possible rift between the US and China at the key event. “China is urging the start of peace talks, and some Group of 20 nations could support that idea when they gather in India, but U.S.
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