One Turn
US 10-year yield tops 5%; dollar near 19-month high
The 10-year Treasury yield rose back above 5% as oil gained and investors bet on more Fed rate hikes. The dollar is near a 19-month high and heads for its biggest weekly gain in two months. Gold fell to a one-year low in the previous session before partly recovering. US home sales hit a 16-year low.
Why it matters
Higher rates raise mortgage and loan costs.
Background
Inflation has stayed high as the Iran war lifts energy costs.
The story so far
- Hot US inflation lifts Treasury yields toward 5%
- US inflation hotter than expected; Fed weighs hikes
- US 10-year yield tops 5%; dollar near 19-month high
Sources
- CNBC ↗Nov 12, 4:04 PM ET
- Asharq Al-Awsat ↗Nov 13, 2:47 AM ET
- Asharq Al-Awsat ↗Nov 13, 1:25 AM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.