Stocks weather bond volatility, oil eases slightly
SPY•Global stocks headed for their best weekly performance since early August as oil prices eased slightly, while bond yields remained near recent peaks. Japan’s 10-year yield touched 3.115%, its highest since 1996.
1. Stocks and oil
Global stocks were on course for their best weekly performance since early August, as AI enthusiasm and hopes for improved Middle East energy supplies outweighed bond-market volatility. Oil prices retreated as traders weighed the possibility of a U.S.-Iran truce, but Brent remained above $100 a barrel.
2. Yields near peaks
Japan’s 10-year bond yield touched 3.115%, its highest since 1996. The U.S. 10-year Treasury yield was around 5.17%, after reaching about 5.22%, a 19-year peak, while the 30-year yield was around 5.47%, its highest since 2004.
3. Currencies and rate bets
Inflation concerns supported expectations for further rate hikes and kept the dollar on track for a second consecutive weekly gain. The dollar fell 0.4% against the yen to 158.23 after Japan’s finance minister said President Donald Trump had voiced concern about yen weakness.
