Stock Futures Slip as 10-Year Treasury Yield Tops 5%
Wall Street futures pulled back as rising bond yields and oil prices continued to weigh on sentiment, according to CNBC.
U.S. stock futures declined on Monday as the yield on the 10-year Treasury note breached the 5% level, according to a report from CNBC.
The report said major stock averages closed lower during the session, with higher bond yields and rising oil prices cited as the primary factors keeping equity markets under pressure.
CNBC did not provide additional detail in the excerpt on the specific magnitude of the yield move or the size of the decline in the major indexes.
Rising Treasury yields are generally seen by investors as a signal of tighter financial conditions, which can weigh on stock valuations, particularly for growth-oriented sectors. Higher oil prices can also raise concerns about inflation and consumer spending.
CNBC's report was part of its ongoing live coverage of stock market conditions. Further details on the drivers behind the yield increase and oil price moves were not included in the available excerpt.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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