U.S. Treasury yields hit 16-year high, new bond king says stock market is in turmoil
The yield on the 10-year U.S. Treasury note rose to a maximum of 4.854% on Tuesday, while the 30-year Treasury note rose to 4.984%, both hitting new highs since 2007. As U.S. Treasury yields rose to a new high in 2007, Jeff Gundlach, founder and CEO of DoubleLine Capital, known as the “New Bond King”, said that the market was digesting the news that the Federal Reserve may maintain high interest rates for a longer period of time, and Including this into the consideration of debt interest rates makes the U.S. stock market face challenges. The S&P 500 index fell to its lowest level since June 1 on Tuesday. Gundlach expects that once the U.S. 10-year Treasury bond yield rises above 5%, the psychological impact will be greater. Gundlach also said that the U.S. economy has begun to slow down in response to high interest rates, and the weakness will be more obvious in the first half of next year, when the Federal Reserve may need to cut interest rates to support the economy.
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2023-10-04 02:54:00
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