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By Staff Reporters
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- Bonds: The 10-year US Treasury bond yield touched 2% for the first time since the summer of 2019 and stocks traded sharply lower after a key inflation figure rose to its highest level in nearly 40 years. The last time the 10-year yield was above 2% was in July 2019. Bond yields and prices move in opposition to each other.
- CPI: The Consumer Price Index’s 7.5% annual surge at the start of 2022 was the biggest leap since 1982 and topped already elevated expectations for a 7.3% rise, based on Bloomberg consensus data. On a month-over-month basis, the CPI unexpectedly posted a 0.6% increase for a back-to-back month, whereas economists had been looking for a deceleration. Core inflation, which strips out volatile food and energy prices, also exceeded estimates, showing a 6.0% year-over-year jump in January.
- Markets: The Dow was down 526 points while the broader S&P 500 fell 87 points. The NASDAQ Composite was also down 305 points.
- CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Alerts Sign-Up, Investing | Tagged: bonds, CPI, DJIA, economists, inflation, NASDAQ, S&P, stock markets, US Treasury Bonds | Leave a comment »
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