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“Wall Street prepares to open negative as bond yields rise.”
“Despite positive reaction to better-than-expected China Purchasing Managers’ Index (PMI), major indexes of the US stock market are poised to open lower due to the continued rise in US Treasury bond yields.
Following signs of the economy’s resilience, investors predicted that the US Federal Reserve would increase interest rates more than expected, causing the major indexes of the US stock market to end February with losses.
The two-year US Treasury bond yields (US2YT=RR), which follow short-term interest rate expectations, rose to 4.86% – the highest level in four months – before dropping to 4.83%.
As of 5:03 pm GMT, Dow Jones futures contracts YM1! fell by 0.22%, while S&P 500 futures contracts ES1! were down by 0.28%, and Nasdaq 100 futures contracts NQ1! were down by 0.24%.”
