Stocks Join Losses in Bonds as Fed-Cut Wagers Fade: Markets Wrap

Wall Streettraders sent both stocks and bonds lower after solidUS factory data reinforced speculation that the Federal Reserve will be in no rush to cut interest rates.

Treasuriesfell across the curve — with 10-year yields climbing over 10 basis points — asmanufacturing unexpectedly expanded for the first time since September 2022 — while input costs climbed. Following the report, the amount of Fed easing priced into swap contracts for this year slid to around 65 basis points — less than forecast by policymakers. Equities also lost traction after the S&P 500 notched its fifth-straight month of ...