U.S. stock-index futures fell early Tuesday as Treasury yields hit 16-year highs and Chinas' property woes rattled global sentiment.
U.S. stock-index futures fell early Tuesday as Treasury yields hit 16-year highs and Chinas’ property woes rattled global sentiment.
What’s driving markets The prospect of borrowing costs staying higher for longer continued to pressure equities. Many Fed officials in recent days have reiterated they believe the central bank will need to increase rates again and keep them at elevated levels for some time. “[R]isky assets, particularly long-duration stocks, have struggled to absorb these rate increases…the correlation between equity prices and bond yields has turned negative again, reflecting the ‘good news is bad news’ sentiment in the U.S.,” said Stephen Innes, managing partner at SPI Asset Management.
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