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Market move▼ Bearish for Indian equities
US mortgage rates breach 7% as affordability pressures mount
The brief
- US mortgage rates have breached 7% as affordability pressures mount
- Higher government bond yields and oil prices linked to the Iran war are driving inflation fears
- Higher global yields and crude prices may pressure Indian rate-sensitive stocks and oil-importing sectors
- Barclays sees lasting labor-market pressures as immigration slows, population ages
- Treasury Secretary Scott Urges Fed To Keep 'Open Mind' On US Inflation Outlook
- Will a falling unemployment rate keep U.S. inflation above target?
- How might a U.S. fiscal crisis unfold? Capital Economics charts the path
- Will US jobs data add to pressure on Fed policymakers?
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
Thursday, 24 September
- US mortgage rates breach 7% as affordability pressures mount