U.S. bond yields surge, S&P index rebounds📈
Shortly after the data was released, the 30-year U.S. Treasury yield first surged, hitting its highest level since 2007. The yield initially jumped 16 basis points, while SPX futures fell 1.3%. However, just when risk assets seemed to be going through Another tough session saw sentiment take a sharp turn late morning in New York, with yields retreating 14 basis points from peak to trough, while the S&P Index moved more than 3 standard deviations intraday in a staggering rebound. At 2.8%, the U.S. dollar index broke a 12-week winning streak, implied volatility fell, gasoline and industrial commodities fell to their lowest levels in a month, and despite strong non-farm payrolls data, the possibility of a Fed rate hike in November Prices remain stable at just over 20%, and all in all, last week ended with a well-timed squeeze rally.
