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Market move▼ Strongly bearish for Indian equities
Dalal Street slumps on oil spike, bond rout & Irda jolt
The brief
- US 10-year Treasury yield moved above 5.10%
- Brent crude remained above $102 a barrel
- Higher crude and yields pressure Indian equities, especially oil-sensitive sectors and rate-sensitive stocks
- Gold prices dip Rs 3,200/10 gram; silver falls Rs 6,700/kg as high oil prices raise rate hike bets. Time to sell?
- Japanese bond yields climb towards multi-decade highs on inflation, BOJ tightening bets
- RBA preview September: 25 bps widely expected as inflation risks grow
- PRECIOUS-Fed tightening bets weigh on gold prices
- Dollar firms as US-Iran tensions lift oil and strengthen hawkish Fed bets
Rising US Treasury yields and market pressure
US Treasury yields climbed to multiyear highs, with the 30-year yield above 5.53% and the 10-year at a 19-year high. Reports cited sticky inflation, heavy bond issuance and rising oil prices, while warning of pressure on US and Indian stocks, valuations and capital inflows.
Friday, 25 September
- Dalal Street slumps on oil spike, bond rout & Irda jolt