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European stocks slip as oil rebounds and bond yields hold elevated

WTI crude bounced to $90.72, up 1.5% on the day, while 10-year Treasury yields recovered to just above 5.23% from about 5.20% earlier.

Reported · Written up by our desk · Indices

European stocks retreated after an early session breather faded, with market sentiment pressured by a rebound in oil prices and bond yields, according to Forexlive.

The outlet said WTI crude dipped to a low of $88.60 before bouncing back to trade at $90.72, up 1.5% on the day, as oil fell in overnight trading following a US offer to release up to 40 million barrels from the Strategic Petroleum Reserve.

Forexlive also noted that 10-year Treasury yields moved off session lows near 5.20% to just above 5.23%, though they remained below the overnight high of 5.29%.

With the dollar also described as weakening in the major currencies space, European indexes reversed earlier gains, with the DAX down 0.2% and the CAC 40 down 0.5% after opening higher.

Latest closeWTI crude $93.42 ▲1.1%|DAX 25,408.64 ▲0.6%

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