U.S. Treasury yields fell sharply last week after lower-than-expected U.S. inflation data coupled with rising U.S. jobless claims all but eliminated the likelihood of further monetary tightening by the U.S. central bank, giving traders the green light to begin pricing in more aggressive rate cuts for next year.
The downturn in yields boosted stocks across the board, propelling the Nasdaq 100 towards its July high and within striking distance of breaking out to the topside- a technical event that could have bullish implications for the tech benchmark upon confirmation.
The downturn in yields boosted stocks across the board, propelling the Nasdaq 100 towards its July high and within striking distance of breaking out to the topside- a technical event that could have bullish implications for the tech benchmark upon confirmation.