Bond Selloff Grinds on as Oil Tests $94 a Barrel: Markets Wrap
- Oil reaches a one-year high, inflaming inflation worries
- Nasdaq 100 ends day higher, world stock index extends losses
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Treasuries sold off while equities churned as investors contemplated the prospect of higher interest rates and rising oil prices as crude hit a one-year high. The dollar extended its climb for a sixth day.
The yield on the 10-year traded above 4.6%, the highest since 2007, amid concerns about dwindling crude stockpiles and pressures on consumers. The ICE BofA MOVE Index — which tracks expected bond volatility — hit the highest in a month this week.