Global stocks pressured by bond yields and oil
Global stock markets are facing significant pressure due to rising yields on government bonds and increasing oil prices, bringing concerns about inflation and tighter monetary policy back to the forefront. The yield on the 10-year U.S. Treasury bonds rose to 5.16%, the highest level since 2007, amid expectations of a possible increase in U.S. interest rates, with over a 50% chance of two rate hikes by the end of the year. Oil prices also surged, with Brent crude surpassing $100 per barrel, further fueling inflationary pressures and impacting European markets, which experienced declines in major indices. In Asia, the Japanese Nikkei index increased by 0.9%, despite Chinese stocks retreating, as investors await the results of the upcoming U.S.-China summit, which will influence trade and technological relations between the world’s two largest economies.
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