US yields, stocks drop, following return from long weekend
|Following a long weekend, US investors played it cool amid ongoing technology and software sector concerns which dragged indices down, says Axel Rudolph, Chief Technical Analyst at investing and trading platform IG.
US yields, stocks drop
The US 10-year yield slipped to 4.02% - to its lowest since early December - and stocks declined further as last week's softer inflation data kept June Fed-cut expectations alive despite stronger payrolls, with markets pricing around 62bp of easing this year ahead of Fed minutes, GDP and core PCE data. European stock indices regained some of Monday's losses despite German economic sentiment coming in weaker than expected and the UK unemployment rate nearly rising to a 5-year high.
Commodities under pressure
Gold, silver and copper prices slid on Tuesday as the US dollar rose to a one-week high and Iran/US nuclear talks progressed. Oil prices slid but the fall was more pronounced for US natural gas which saw its steepest decline in four months, dropping by around 6%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.