Stocks Resilient Despite Bond Turmoil
Concerns gripped the bond market as ballooning government debt, the prolonged Iran conflict, and a persistently strong economy reinforced expectations that interest rates will remain elevated for longer. The 10-year U.S. Treasury yield, which traded near 4.50% in early July, briefly touched 5.23% on Friday as Treasury Department measures have provided little relief. Remarkably, equities remained resilient near all-time highs despite mounting turmoil in the bond market.
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