Equities: Alphabet (GOOGL) popped ~6% after winning its Chrome antitrust case, helping lift Nasdaq futures. Macy’s also beat earnings, boosting retail sentiment.
Bonds: The U.S. 30-year Treasury yield briefly touched 5%, sparking ripple effects across global bond markets. Yields in the UK, Germany, and Japan also pushed higher, with investors nervous about debt levels and inflation pressure.
Policy: Fed Governor Waller is pushing for multiple rate cuts to support the labor market, while other Fed officials remain cautious, creating uncertainty around the September meeting.
Big picture: Tech stocks are getting a boost from short-term news, but the global bond selloff could weigh on overall risk appetite.
Bond Market Turmoil & Google’s Antitrust Win: Today’s Two Market Highlights
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