US Treasury signals action to lower bond yields, stocks rise

Yahoo Finance··USGBKR·Read original
4▲2 ▼0Impact / 5
Summary · why it matters

The US Treasury surprised markets by announcing it would at least double sovereign bond buybacks to push down 30-year yields, sending stocks higher and the dollar sharply lower. Wall Street indices jumped on the news before giving up some gains, while European stocks closed broadly lower after tech-led selling in Asia. Oil prices continued to rise as President Trump said he would not extend a 60-day truce with Iran, dimming hopes for reopening the Strait of Hormuz. UK inflation jumped to 2.9 percent in July, and South Korea's Kospi tumbled 5.8 percent. Moderna shares more than doubled after positive results for a skin cancer vaccine developed with Merck.

Impact on assets 6

Biotech & Genomic Medicine▲ · 2 stocks
Moderna Inc
MRNA
▲ PositiveTechnologyrelevance

Moderna shares more than doubled after positive results for its skin cancer vaccine.

Merck & Company Inc
MRK
▲ PositiveTechnologyrelevance

Positive results for skin cancer vaccine developed with Merck boost its prospects.

Artificial Intelligence▲ · 2 stocks
Critical Materials & Supply Chain▲ · 1 stocks
Others▲ · 1 stocks
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