Sep 21 - Sep 25Written by: Claude
What Happened Last Week · What Is Coming This Week
10-Year Yield Hits 5.17%, Yet Nasdaq 100 Gains 3.2%
Last Week
Bond yields set the tone this week. Strong data and a signal from the Fed lifted the odds of another rate hike in October.
The 10-year Treasury yield topped 5.10% on Wednesday. That was its highest level since 2007.
Wednesday's flash PMI moved pricing first. The composite index jumped to 58.4, its highest reading since July 2021. The input-cost gauge surged from 59.9 to 66.4.
On Thursday, New York Fed President John Williams said one more hike by year-end seemed reasonable. The same day, initial jobless claims fell to 197,000 against a 201,000 forecast.
