Bonds & Stocks
A pullback in oil prices sent stocks to all-time highs, with Wall Street also buoyed by renewed enthusiasm about the artificial-intelligence trade that has powered the bull market. The S&P 500 rose 0.5%. The yield on 10-year Treasuries declined two basis points to 5.29%.
Economy
Treasuries came under renewed pressure Monday, pushing longer dated yields to fresh multi-decade peaks as bonds extended their monthslong slide. Both the 10-, and 30-year yields rose at least 7 basis points to 5.34% and 5.7%, respectively, reaching the highest levels since 2002. Shorter-dated Treasuries climbed some 2 to 4 basis points.
World
Voters in Quebec elected the separatist Parti Québécois for the first time in more than a decade, setting the stage for more strained relations with Prime Minister Mark Carney’s government and an eventual referendum on the province’s independence from Canada.