Bassanese Bites: Global equities sell-off continues – October 23 2023
Global markets
Global equities continued to sell off last week on the back of a further rise in bond yields. After easing the previous week, US 10-year yields surged back to end the week at 4.91% while the S&P 500 index dropped 2.4%
Several factors drove the rebound in bond yields. For starters, oil prices remained firm as Middle East tensions continued to simmer, especially following the alleged bombing of a major hospital in Gaza.
