The 10-year Treasury note yield hit highest level since July 2008 by a strong sale of US Government bonds, after a weak housing report.
Housing starts, a measure of new residential construction, fell 8.1% in September, in the latest sign that the economy is running out of steam.and which has been affected by the aggressive tightening of monetary policy by the Federal Reserve.
While some indicators of equity market health showed the latest rally could be the start of a sustained move higher, many investors are waiting for signs of cooling in inflation, which has far outpaced the Fed’s target. .
The US central bank is likely to raise rates by 75 basis points for the fourth consecutive time this year in November.
Netflix soars 15% after capturing 2.4 million new subscribers worldwide in the third quarter, more than double the consensus forecast, and anticipating 4.5 million subscriptions by the end of the year. The constituents of the Dow, Procter & Gamble Co and Travelers Companies Inc, they rose 3.4% and 2.6%, respectively, after companies reported better-than-expected quarterly profit.
Source: Ambito
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