U.S. treasuries were leading a broad-based bond rally on Thursday as concerns mounted about the strength of the economic recovery while inflation fears ebbed, with U.S. stocks following declines earlier across the globe. The burst of pessimism continued a pattern earlier in the week and comes as central bankers juggle concerns about the pace of economic recovery from the COVID-19 pandemic and its impact on inflation. Around 1400 GMT, the yield on 10-year Treasury notes was down 4.3 basis points to 1.278%. A reading on Thursday on the number of Americans filing new unemployment claims provided another indication that the job market recovery from the COVID-19 pandemic continues to be choppy. The Dow Jones Industrial Average was off 399.59 points, or 1.15%, to 34,282.2, while the broad S&P 500 lost 54.88 points, or 1.26%, to 4,303.25.

Source: Mint July 08, 2021 14:26 UTC