Home Economy Treasury yields rise, U.S. stocks hit new highs; dollar weakens

Treasury yields rise, U.S. stocks hit new highs; dollar weakens

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  • S&P 500, Dow and Nasdaq Composite close at new record highs
  • Buying of T-Notes slows; eyes on next week’s auctions
  • Flight-to-quality urge eases a bit; risks remain

NEW YORK, July 9 (Reuters) – Treasury yields extended their rise on Friday while the three major U.S. stock indexes rallied to record closing highs, as markets relaxed a bit from fears of a slowing pace of economic recovery from COVID-19 that dominated trading for much of the week.

In currencies, the safe-haven yen weakened 0.32% versus the greenback at 110.14 per dollar, while the dollar index fell 0.205%, and the euro edged up 0.24% to $1.1871.

Signs of risk relief were tempered, however, as spot gold , another safe-haven asset, logged its third straight weekly gain, rising 0.3% to $1,807.65 an ounce.

Concern about a faltering recovery, driven in part by the spread of the Delta variant of the coronavirus, had reduced risk appetite early in the week and prompted flight-to-safety bond buying,…

Click here for full article…www.reuters.com