Bassanese Bites: Higher for longer – August 21 2023
Global markets
US stocks weakened for the third week in a row under pressure from rising US bond yields and concerns over the Chinese economic outlook. Strong US retail sales in July along with the market’s hawkish interpretation of the minutes of the Fed July policy meeting saw US 10-year bond yields rise for the fifth week in row to 4.25%. US 10-year bond yields broke above the highs of 4.22% of mid-October last year.
