Key Points
NEW YORK (Reuters) -Wall Street struggled for gains on Tuesday as rising U.S. Treasury yields and elevated geopolitical worries counteracted a generally positive string of first-quarter corporate results...
But stocks were held in check by benchmark Treasury yields climbing to fresh five-month highs due to lowered rate cut expectations from the U.S. Federal Reserve and heightened tensions arising from the growing conflict in the Middle East...
Youve seen yields move much higher and thats due to both the market and the Fed rolling back rate cut expectations, said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York..
Yields for 10-year U.S. Treasuries hit a new five-month high on diminishing expectations Fed policy easing this year, and after stronger-than-expected economic data from China revived worries that inflation could reaccelerate...
Benchmark 10-year notes last fell 5/32 in price to yield 4.6468%, from 4.628% late on Monday.. The 30-year bond last fell 8/32 in price to yield 4.7553%, from 4.74% late on Monday.. The dollar briefly touched a five-month high against a basket of world currencies but was last essentially unchanged, as the yen continued to hover year 34 year lows, keeping intervention watchers on alert...
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