US 10-Year Yield Hits 4% as BOJ Worry Lifts Yen: Markets Wrap
- Markets rattled by news report BOJ to discuss YCC tweak
- US economy unexpectedly picks up steam in the second quarter
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Just when US traders were trying to take a break from all the anxiety on whether Federal Reserve rate hikes will cause a recession, speculation about a tweak in policy on the other side of the world roiled markets across the board.
Stocks erased gains, Treasury 10-year rates hit 4% and the yen advanced on a news report the Bank of Japan will discuss tolerating higher domestic bond yields at a scheduled meeting Friday. Wall Street’s “fear gauge”, the VIX, jumped the most since May. In late trading, Intel Corp. rose on a bullish revenue forecast.