Treasuries Halt Fed-Fueled Rout as Stocks Struggle: Markets Wrap
- Fed officials see more hikes possible as inflation persists
- BofA says rate worries spark biggest stock outflows this year
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Treasuries rebounded and stocks struggled at the end of a jittery week that saw investors positioning for a higher-for-longer Federal Reserve stance.
Ten-year yields dropped after briefly topping 4.5% for the first time since 2007. The S&P 500 notched its worst week since March. Tech, which bore the brunt of the recent rout, outperformed. Apple Inc. climbed as its latest iPhones and watches went on sale. A gauge of US-listed Chinese shares rallied on news Washington and Beijing are forming working groups to discuss economic and financial issues.