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If yields rise as a result of economic growth, it is deemed positive for equities. According to the latest published data, China and Japan dumped U.S. Treasuries the most in August. China reduced its holdings for the third straight month, and its holdings are off from the peak seen in 2017.
On the data front, mortgage applications are due at 7 a.m. ET, followed by housing start numbers for September at 08:30 a.m. ET. On Wednesday, Abbott Labs and U.S. Bancorp, M&T Bank and Winnebago are expected to report before the bell. U.S. government debt prices ticked lower ahead of more economic data, corporate earnings and Fed minutes on Wednesday.
Gold futures edge up Tuesday to mark another finish at their highest since July, but a rally in the U.S. stock market limits gains for the precious metal.
SINGAPORE (AP) — Asian markets were mostly higher on Tuesday, though Chinese benchmarks fell after the government reported inflation rose for the fourth straight month.
A Commerce Department report on Monday showed that U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest drop in spending at restaurants and bars in nearly two years.
U.S. government-bond prices declined Monday as stocks steadied. The fall in stocks was precipitated in part by a sharp climb in government-bond yields, which reached multiyear highs earlier this month. The 10-year Treasury yield is roughly 0.75 percentage point higher now than it was at the end of last year.
Add the disastrous miscalculation of calling a general election last year, which left Northern Ireland’s Democratic Unionist Party holding the balance of power, and we have the U.K.’s dreadful current political mess.
(Bloomberg Opinion) -- Theresa May won the U.K. premiership by saying that: “Brexit means Brexit.” This comment, along with some fratricidal maneuvers among the Brexiteers within her Conservative party, helped ensure that a politician who had supported staying in the European Union would be given the job of taking the U.K. out. But the continued Shakespearean bloodletting among the Brexiteers is getting in the way of working out what kind of a deal might be acceptable to those who have asked for it.Meanwhile the studied vagueness of “Brexit means Brexit” no longer sounds decisive. ...
The benchmark S&P 500 index teetered between positive and negative territory for much of the day but moved definitively lower in the last half-hour of trading. The Dow, which was positive for most of the session, reversed course.
Treasury yields rose on Monday to kick off a week during which investors are expected to take their cue from the continued weakness in stocks and geopolitical jitters.