Bonds & Stocks
A drop in oil prices brought some relief to Wall Street, tempering concerns over Europe’s public finances that sent the euro to its weakest level since May 2025. The S&P 500 rose 0.2%. The yield on 10 year Treasuries advanced three basis points to 5.30%.
Economy
The selloff in Treasuries shows few signs of abating, with volatility spiking and traders demanding ever higher yields on longer-term debt as a host of pressures weigh on bonds. 10- and 30-year yields both reached levels last seen in 2002, a sign of tepid demand as a gauge of bond price swings climbed to a six-month high.
World
Brazilian assets surged after Senator Flávio Bolsonaro defied polls and became the front-runner to win the Oct. 25 presidential runoff against Luiz Inácio Lula da Silva.