Technology companies led gains in stocks, with bond traders paring aggressive bets on Federal Reserve hikes amid speculation that inflation may be near a peak. Investors also weighed the start of the earnings season against geopolitical risks.
The S&P 500 halted a three-day drop, while the tech-heavy Nasdaq 100 outperformed major benchmarks. Treasury two-year yields — which are more sensitive to imminent monetary policy decisions — extended this week’s slide to 20 basis points. The loonie rose after the Bank of Canada raised its interest rate by half a percentage point in its biggest increase in more than two decades. Oil traded above US$100 a barrel.
Bond yields fell even after data showing prices paid to U.S. producers jumped the most on record, topping all estimates. That stands in contrast with the latest consumer-price report, which showed a softening in the pace of core inflation. For analysts, the big moves across the front-end of the Treasury market reflects…
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2022-04-13 16:18:45
