Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.
The key 10-year Treasury yield finally broke through the 5% mark for the first time in 16 years on Monday.
What’s happening What’s driving markets Yields have climbed in recent weeks in what Fed officials including Chair Jerome Powell and Vice Chair Philip Jefferson have largely blamed on rising term premiums — the unobservable compensation that investors require for bearing the risk that rates may change.“Two things stood out in the FOMC’s most recent dot-plot – another rate hike may be appropriate, and the higher policy rate would be in place for longer than previous dot-plots had suggested.
The next Fed decision comes on Nov. 1, with expectations the central bank will pause and wait for more data before the December meeting. The rise in yields on Monday, however, may reflect the small amount of progress in the Middle East, as Hamas released two hostages and Israel has continued to hold off on a ground invasion in Gaza.
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Stock-market investors face reality of 5% Treasury yields. Here's what's next.Frances Yue covers the cryptocurrency market for MarketWatch.
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Steven Johnson: TCU has big questions it needs to answer after ugly loss to K-StateSonny Dykes said if TCU wants to be a big boy program then it has to act like one. But after the blowout loss to K-State how far is TCU away from that tier of college football?
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Grizzlies C Steven Adams to undergo season-ending knee surgeryThe Memphis Grizzlies announced on Sunday that center Steven Adams will undergo season-ending knee surgery.
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Grizzlies' Steven Adams to undergo knee surgery, miss seasonGrizzlies center Steven Adams will not play this season as he needs to undergo surgery on his injured right knee.
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Grizzlies C Steven Adams to undergo season-ending knee surgeryThe Memphis Grizzlies announced on Sunday that center Steven Adams will undergo season-ending knee surgery.
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Grizzlies center Steven Adams set to undergo season-ending knee surgeryThe Memphis Grizzlies' starting lineup took another blow prior to the start of the season as Steven Adams will undergo season-ending knee surgery.
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