Silver Soars Past $58, Bitcoin-Strategy Bloodbath Deepens: What’s Moving Markets Monday?
Wall Street kicked off December with stocks slightly easing after a strong late-November rally, as rising global bond yields and sharp moves in commodities and crypto set a more cautious tone for equity traders.
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Both the S&P 500 and the Nasdaq 100 were 0.1% lower by midday in New York. The Dow slipped 0.4% as investors took profits after the strongest week in six months.
Energy stocks led gains, supported by crude prices rebounding toward $60 a barrel, as optimism for a Ukraine-Russia peace deal eroded further.
Yields across sovereign bonds soared. The 10-year U.S. Treasury yield jumped seven basis points to 4.08%, extending a rebound that began last week. But the most dramatic move came from Japan: the yield on 10-year Japanese government bonds surged to 1.90%, its highest level since July 2008, following a 25 basis-point rise over just five sessions.
Bank of Japan Governor Kazuo Ueda said Monday the central bank would evaluate the “pros and cons” of raising rates at its …
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