Stocks’ Summer Rally Fueled by Drop in Bond Yields


A pointy decline in longer-term bond yields has powered a rebound in shares, as slowing progress provides traders better confidence that the postpandemic financial system gained’t be outlined by considerably greater rates of interest than the one which preceded it. 

The yield on the 10-year U.S. Treasury word, which units a flooring on mortgage charges and myriad different borrowing prices, settled June 14 at 3.482%, the best stage since 2011 and up from 1.496% on the finish of final yr, in line with Tradeweb. July, although, marked its greatest one-month decline since March 2020 and it settled at 2.674% Thursday.


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