Wall Street hits two-week low as bond yields rise
U.S. bond yields climbed and Wall Street reached a two-week low following a retail sales miss from Walmart and rising oil prices. Meanwhile, market participants weighed the likelihood of a Federal Reserve rate hike in September.
Insights:
United States bond yields rose during Thursday morning trading, pushing Wall Street to a two-week low following a surprise Treasury buyback announcement. The reversal erased the previous day's decline as retail earnings misses and rising oil prices added pressure to equities. Investors are now weighing mounting inflationary pressures against shifting central bank policy expectations ahead of next month.
