Commodities
Stocks Rise Despite Soaring Treasury Yields
US stocks rose on Friday after a volatile week that saw Treasury yields surge to multi-decade highs, according to FOREX.com. The Dow is set to close its fourth straight losing week, while the S&P 500 and Nasdaq are poised to gain.
Oil prices fell on hopes of diplomatic progress between the US and Iran, easing inflation concerns after a tumultuous week in the bond market.
The 10-year Treasury yield climbed to 5.225% late Thursday, a fresh 19-year high, while the 30-year reached 5.502%, a level not seen since 2004. Markets moved to price in a 70% probability of a rate hike in October.