Markets fell on Friday.
The S&P 500 fell 0.9 percent, the Nikkei 225 fell 0.1 percent and the STOXX Europe 600 fell marginally.
The US 10-year Treasury note yield rose 4.4 basis points to 2.956 percent, the highest since January 2014.
Kristina Hooper, chief global market strategist at Invesco, said that “Friday’s weakness in stocks suggests that investors sold Treasurys because they are concerned that wage pressures and protectionist policies of the White House administration would send inflation higher”.
“The inflation the Fed so desperately sought for so long has arrived,” said David Rosenberg, chief economist for Gluskin Sheff.
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