Bond Yields Fall on Bets Fed Nearing End of Hikes: Markets Wrap
- Equities rise as S&P 500 closes at highest since April 2022
- US inflation cools to 3% and core CPI rises less than forecast
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Treasury yields fell and stocks rose as data showing a slowdown in inflation bolstered speculation the Federal Reserve is close to ending its rate hikes.
The S&P 500 finished at its highest since April 2022, while the Nasdaq 100 outperformed. Two-year yields, which are more sensitive to imminent policy moves, slid 13 basis points to 4.74%. The dollar slipped to a 15-month low. Brent crude climbed above $80 a barrel for the first time since May.