Stocks Fail to Hold Gains as Treasury Yields Jump: Markets Wrap
- JPMorgan’s Kolanovic says bond traders overpricing hawkish Fed
- Bullard urges front-loading hikes for inflation credibility
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Stocks faced another session of wild swings as traders assessed the latest geopolitical developments amid worries about a Federal Reserve policy mistake.
After a few rebound attempts, the S&P 500 notched its third straight drop. The gauge still closed off its session lows, while the tech-heavy Nasdaq 100 finished higher. Treasury yields climbed -- with shorter maturities leading the increase. The move kicked in a resumption of curve flattening, with the gap between two- and 10-year rates narrowing. West Texas Intermediate crude topped $95 a barrel for the first time since 2014.