Bonds & Stocks
US stocks were poised to halt a run into record territory as concerns over inflation and pressure on government finances put the brakes on a rebound in bond markets. S&P 500 futures fell 0.5% after the index closed at an all-time high. Those for the Nasdaq 100 dropped 0.9%.
Economy
US Treasuries resumed their retreat, lifting the 30-year yield back to its highest since 2002 as climbing oil prices raised concern about faster inflation and more central bank interest-rate increases. The moves in US debt markets trickled into Europe, helping send UK 30-year gilt yields back to 6%.
World
From street protests to a bond market rout, France’s multiple crises are threatening to drag the European Central Bank into the kind of faceoff with investors that it hasn’t seen since the euro area’s debt crisis more than a decade ago.