U.S. Stocks Gain While Treasuries Decline as Risk-Taking Returns
- S&P 500 less than 1% from record, Nasdaq 100 at all-time high
- Ten-year Treasury yields at six-week high before jobs data
This article is for subscribers only.
Risk-taking has returned to global financial markets, as beaten-down energy shares and emerging markets help equities extend a 10-week rally, while high-yield debt issuance rises to the highest level in a month.
The Standard & Poor’s 500 Index pushed its rebound from an August rout to 13 percent, with energy producers advancing for a fifth day. Speculative-grade companies returned to the bond market while rates remain low. Developing-nation stocks and currencies gained. The dollar strengthened against the euro, while 10-year Treasury yields climbed to 2.22 percent. Oil resumed its rally.