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US stocks rebound as bond-market volatility eases
The S&P 500 was up 0.3% and the Dow 0.6% by 10:45 a.m. ET, after the 10-year Treasury yield moved up to 4.71% from 4.69%.
US equities climbed on Friday after a sharp prior sell-off, with investor sentiment improving as bond market swings eased, according to a Reuters AI Quick Read.
By 10:45 a.m. Eastern Time, the S&P 500 rose 0.3%, the Dow Jones Industrial Average was up 0.6%, and the Nasdaq Composite gained 0.2%. At the open, the Dow was higher by 9.7 points.
Bond trading remained volatile, but Treasury yield moves were smaller than earlier in the week, after an announcement on Wednesday of a bond buyback programme to help limit the rise in long term government yields. The 10-year Treasury yield rose slightly again on Thursday, reaching 4.71% from 4.69%.
The report said investors are watching signals from the US administration about whether more action could be taken to manage longer-term borrowing costs, and it linked elevated long-term yields to concerns about inflation staying high for longer. Separately, uncertainty around the reopening of the Strait of Hormuz persisted, with Brent crude up 0.4% to $94.09 after the update.
Latest closeWTI crude $95.27 ▲3.4%|Brent $100.98 ▼2.0%|S&P 500 7,675.92 ▼0.4%